Skip to main content

Updated from 9:30 a.m. EST

Sharper Image


gained Monday after Wedbush Morgan raised its price target on the stock.

The broker set a target of $39 a share, up from $37 a share, and also reiterated its buy recommendation. Sharper Image shares were up 89 cents, or 2.7%, to $33.28.

TheStreet Recommends

The company Friday said same-store sales were up 21% in the month to date and raised its fourth-quarter earnings guidance.

Sharper Image now expects to earn $1.34 to $1.38 a share in the fourth quarter, up from previous guidance of $1.32 to $1.36 a share and for the most part above the $1.35 a share that analysts surveyed by Thomson First Call were expecting. The company earned $1.26 a share in the year-ago quarter.

"While sales were very strong in all retail sales channels -- stores, Internet and direct marketing, including catalog and television infomercial -- our stores sales especially benefited from last-minute shoppers and the Dec. 20 beginning of Hanukkah," the company said.

Sharper Image said that through Dec. 24, same-store sales increased 21% while total sales were up 30% from a year ago. "The same-store sales are impressive, because it was on top of the 2002's 7% comparable-store sales through Dec. 24."

Internet sales rose 34% year-over-year.