a.k.a. Brands price target raised to $22 from $11 at Telsey Advisory

Telsey Advisory analyst Dana Telsey raised the firm’s price target on a.k.a. Brands to $22 from $11 and keeps a Market Perform rating on the shares. After several quarters of challenging results, the company delivered a “nice beat” on both top and bottom line in Q1, the analyst tells investors. In the long-term, the firm anticipates the company’s brands can return to growth but expects continued near-term pressure as the Australian market remains a pressure point and its labels work to gain traction in a competitive retail landscape.