Jefferies Lifts J.Jill Price Target to $16 as Q1 EPS Beats Estimates
JILL•Analyst Jefferies reaffirmed its Buy rating on J.Jill, raising the price target to $16 from $14 after Q1 revenues of $144.43 million declined 6% year-over-year. The company posted EPS of $0.45, beating estimates, and CEO Coyne noted early positive signs for the retailer’s strategic transition.
1. Jefferies Reaffirms Buy Rating
Jefferies maintained its Buy rating on J.Jill and increased the 12-month price target to $16 from $14, citing confidence in the company’s turnaround strategy. The firm highlighted potential upside from ongoing brand and product repositioning aimed at expanding J.Jill’s customer base.
2. Q1 Financial Results
In the first quarter, J.Jill reported revenues of $144.43 million, down 6.0% from $153.6 million a year earlier, and comparable sales fell 8.7%. The retailer delivered earnings per share of $0.45, topping consensus estimates by a penny despite the top-line decline.
3. Strategic Transition and CEO Commentary
CEO Mary Ellen Coyne described the company as being in the early stage of its strategic evolution, noting encouraging indicators that new merchandising and marketing initiatives are gaining traction. Management emphasized focus on broadening its appeal in the competitive women’s apparel market.
