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Upgrade Alert for Chico's FAS (CHS)

By Shiri Gupta

Chico's FAS (NYSE:CHS) was upgraded from Underperform to Peer Perform at Wolfe Research today. The stock closed yesterday at $10.85 on volume of 3.4 million shares, above average daily volume of 2.5 million.

There is potential upside of 35.5% for shares of Chico's FAS based on a current price of $10.85 and an average consensus analyst price target of $14.70. The stock should run into initial resistance at its 50-day moving average (MA) of $12.70 and subsequent resistance at its 200-day MA of $13.01.

Chico's FAS, Inc. sells private label women's casual clothing and related accessories. The Company's clothing includes tops, pants, shorts, skirts, and dresses. Chico's owns and operates stores throughout the United States.

In the past 52 weeks, Chico's FAS share prices have been bracketed by a low of $9.61 and a high of $17.50 and closed yesterday at $10.85, 13% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.1%.

SmarTrend is monitoring the recent change of momentum in Chico's FAS. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Chico's FAS in search of a potential trend change.

Keywords: analyst upgrades/downgrades chico's fas

Ticker(s): CHS