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Ascena Retail (ASNA) Stock Rallying on Upbeat Analysts' Actions Following Ann Acquisition

2015-05-20 10:18:52| Apparel - Topix.net

"With the addition of the Ann Taylor and LOFT brands, Ascena will become one of North America's largest and most diversified specialty apparel retailers, with a tremendous set of opportunities to continue to expand its leadership position in the women's apparel market," Ascena CEO David Jaffe said in a statement yesterday. FBR Capital upgraded the company to "outperform" from "market perform," saying synergies from the Ann acquisition are under-appreciated following yesterday's sell-off.

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