NEW YORK (TheStreet) -- Shares of Guess? (GES) - Get Report were spiking 17.45% to $17.50 in pre-market trading on Thursday after the company posted stronger-than-expected earnings for the 2017 fiscal second quarter.

After yesterday's market close, the Los Angeles-based retailer reported adjusted earnings of 14 cents per diluted share, handily beating analysts' projections of 7 cents per share.

Comparable-store sales declined 2% in the period, better than analysts' estimates for a 4.3% decline.

Revenue was $545 million for the quarter, but analysts were looking for revenue of $550.5 million.

For the third quarter, Guess sees earnings per diluted share between 11 cents and 16 cents. Analysts are estimating earnings of 16 cents per share.

Full-year earnings per diluted share are expected to range between 62 cents and 75 cents, compared to analysts' predictions of 60 cents per share.

B. Riley upgraded the stock to "buy" from "neutral" this morning following the quarterly report. The firm also increased its price target to $21 from $16, the Fly reports.

The firm noted that the company raised the low end of its earnings forecast for the fiscal year. B. Riley believes the "end game" for Guess is the sale of the company.

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C- on the stock.

The primary factors that have impacted the rating are mixed. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that were evaluated.

But the team also finds weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: GES

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