Chico’s FAS, Inc. (NYSE:CHS) stock hit a 52-week high on Monday.
Chico’s FAS, Inc. stock was sitting around the $15 mark as of Monday afternoon. This had the stock being up almost 10% from its closing price of $13.70 on Nov. 11, 2016. CHS stock has risen 22% over the last year and is up 40% year-to-date.
The increase in stock price for Chico’s FAS, Inc. comes after Wolfe Research released an update on the stock. The investment research firm increased its rating for CHS stock from “Market Perform” to “Outperform.” This gives the stock consensus rating of “Buy.” The current consensus price target for the stock is also sitting at $13.21.
Chico’s FAS, Inc. stock is also on the rise following a report that claims retailers will be seeing benefits soon. This report comes from Citigroup. According to the report, tax reforms that President-elect Donald Trump is planning will help retailers.
Citigroup also updated its stance and target price for CHS stock in its recent report. It increased its rating for Chico’s FAS, Inc. from “Neutral” to “Buy.” The investment research firm also increased its price target for CHS from $13 to $16, reports Schaeffer’s Investment Research.
Chico’s FAS, Inc. last released its earnings report on Tuesday, Aug. 30, 2016. The company reported earnings per share of 25 cents and revenue of $635.70 million. This beat out Wall Street’s earnings per share estimate of 22 cents and revenue estimate of $632.49 million for that quarter.
Chico’s FAS, Inc. is a specialty retailer that focuses on providing clothes and accessories to women. It was founded in 1983 and currently has over 1,500 locations.
