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Fly News Breaks for September 28, 2017
CHKE
Sep 28, 2017 | 08:31 EDT
Roth Capital analyst Dave King lowered his price target for Cherokee to $6.50 from $10 to reflect recent Q2 results and guidance, as well as his expectation for more limited core expense savings and revenue from Hi-Tec. The analyst remains concerned about ongoing licensee transitions for legacy Cherokee, but shares look materially undervalued based on Hi-Tec's potential and given overall GMR coverage that exceeds the company's current enterprise value. King reiterates a Buy rating on the shares.
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