Gymboree surges on possible sale
An analyst says strong cash flow, a healthy balance sheet and good brand recognition could make the children's apparel company an attractive acquisition.
By Jeanine Poggi, TheStreet
Gymboree's (GYMB) stock is surging on rumors that the children's apparel retailer may put itself up for sale.
The Wall Street Journal reported Thursday night that the retailer is exploring a possible sale to private investors.
"Given strong cash flow generation, a healthy balance sheet, core brand recognition and growth potential, Gymboree represents a palatable potential private transaction," Susquehanna analyst Thomas Filandro wrote in a note.
Filandro upped his price target on the stock to $60 from $48.
Shares of Gymboree were soaring 16.1% to $48.24 in midday trading and driving up shares of rival Children's Place (PLCE), which was gaining 5.3% to $51.35.
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