Shares of the apparel maker fell after Morgan Stanley initiated coverage of the shares on Friday. The firm issued an underweight rating, indicating the undervalued stock makes it tempting, but the firm believes that Guess “contains the largest risks and lowest earnings visibility in our coverage universe.’’ It believes the core businesses in the US and Europe will be pressured “in the near term.”
Guess Inc. shares slump on rating
Globe wires October 20, 2012
Read it all, now.
Don't miss any of your favorite stories again. Read the stories that matter to you as much as you want, whenever you want when you subscribe to BostonGlobe.com.
Get full access today for just 99¢