Express volatility expected to move on Sycamore Partners reporting 9.9% stake Express options volatility expected to move after Sycamore Partners reported a 9.9% stake and said its it interested in conducting due diligence that could lead to a buyout. Overall options implied volatility of 51 is above its 26-week average of 45 according to Track Data, suggesting large near term price movement.
Express downgraded to Neutral from Buy at Goldman Goldman downgraded Express to Neutral based on lackluster fundamentals as the pace of promotions in the quarter indicate a less robust margin recovery. The analyst believes shares reflect fundamentals and upside risk of a potential takeover. Price target lowered to $17 from $18.