Stifel Nicolaus Reiterates Buy on Express

Stifel Nicolaus is out with its report today on Express (NASDAQ: EXPR), reiterating Buy.

In a note to clients, Stifel Nicolaus writes, "The stock seems to be under pressure in the after market as we believe many investors are using this as an opportunity to take profits. We believe the stock sell-off is a buying opportunity as we expect shares to trade up to our $26 target price within the next 12 months (14x our 2012 EPS estimate of $1.85). We reiterate our Buy rating."

Stifel Nicolaus maintains a $26 PT on EXPR.

At the time of posting, shares of EXPR were trading pre-market at $21.50, down 5.99% from Tuesday's close.