This is why I could never be an economist: Lands Endtrade; gets bought up by Sears….and its stock soars?
What gives? I mean, are investors really that excited about oatmeal-heather anorak pullovers with the “Toughskin” label…?
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From <a href=”http://finance.yahoo.com/mp”>http://finance.yahoo.com/mp</a>
“7:37AM Sears, Roebuck upgraded at UBS (S) 52.00: UBS Warburg upgrades to BUY from Hold based on their enthusiasm for S’s planned acquisition of LE; believes the greatest benefit to S from the acquisition is the enhanced credibility of its apparel effort, and believes the sale of Land’s End merchandise in S’s full line stores will add about $0.20 to S’s EPS by 2004. Raises price target to $60 from $55 and raises 5-year EPS growth rate forecast to 10% from 8%.”
No mention of new “Toughskin” anorak product line, they must be keeping that under wraps.