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Men's Wearhouse (NYSE: MW) was recently trading at $21.64 in pre-open trading, below its close of $25.44.
MW lowered its Q4 earnings forecast due to substantially lower traffic levels.
Stifel says: "we reiterate our Buy rating, with a $30 price target." Cowen says: "Deteriorating economy results in huge Q4 EPS cut; LT thesis in tact."
MW overall option implied volatility of 71 is above its 26-week average of 42 according to Track Data, suggesting larger risk.
Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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