AnnTaylor Stores: So Far, So Good

AnnTaylor Stores Corporation (NYSE: ANN) is having its Overweight rating and $28 price target reiterated by Piper Jaffray due to September being a more important month for women's retailers, and Piper Jaffray sees the upside to same store sales and potential margin increases.

Piper Jaffray currently estimates $2.1B in revenues for 2011, and EPS should be slightly higher than $2.00, assuming a 10% operating margin.

Piper Jaffray also believes that comps and margins are either in-line or slightly above consensus compared to this time last year.

AnnTaylor Stores Corporation closed yesterday at $17.35.

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