Chico’s initiated with a Buy at B. Riley

B. Riley analyst Jeff Lick initiated coverage of Chico’s with a Buy rating and $9.25 price target. The analyst sees Chico’s as a "well-positioned, digitally enabled retailer in the early stages of a decade-long demographic tailwind." Chico’s product and service offerings are both needed and wanted by its core customer and difficult to replicate or replace, the analyst tells investors in a research note. The firm sees it as a matter of time until the market rewards Chico’s with a higher valuation multiple.