Should I Do It? Chico's FAS Not a Good Fit

Chico's FAS(CHS Quote) was one of a handful of stocks that moved higher during Tuesday's broad market selloff, as the retailer was upgraded from underperform to market perform by the brokerage Friedman Billings Ramsey.

While conceding that "the story is still a work in progress," analyst Adrienne Tennant believes that any disappointing news in the near term has already been priced into the stock, and management is successfully addressing recent inventory growth.

Year-over-year comparisons also are expected to become easier in upcoming months, after Chico's reported five straight months of same-store sales declines. ...