J.Jill initiated with a Buy at BTIG

BTIG initiated coverage of J.Jill with a Buy rating and $44 price target. The firm views the story as attractive given what it sees as the company’s ability to capture share of a large, underserved market where the competitive landscape has become less intense; a resilient target demographic of older, affluent women; an under-penetrated store base and opportunity to re-expand the fleet; and the company’s shrinking debt load.