CHS - Chico's FAS Acquisition: Why Sycamore's Strong Track Record And Sourcing Capabilities Make It The Ideal Suitor Says Analyst | Benzinga
Telsey Advisory Group analyst Dana Telsey reiterated a Market Perform rating on the shares of Chico’s FAS Inc (NYSE: CHS) and raised the price target from $6.00 to $7.60.
Yesterday, Chico’s FAS announced a definitive agreement to be acquired by private equity firm Sycamore Partners for ~$1 billion.
The analyst noted that in May 2019, Sycamore sent CHS an unsolicited proposal to acquire the company at $3.50/share when the stock was trading around $3.70. The CHS Board reviewed the proposal and ultimately rejected it, causing the stock to slide to around $3.10. Sycamore then followed up with ...