UPDATE: Goldman Sachs Initiates Coverage on Ann Taylor as Inventory is Elevated into Slowing 2H Demand Picture

In a report published Monday, Goldman Sachs analyst Tiffany Hagge initiated coverage on Ann Taylor (NYSE: ANN ) with a Sell rating and $29.00 price target. In the report, Goldman Sachs noted, “We are Sell rated on ANN, as our tactical framework suggests demand is not materializing to support increased