Latest Word on Quiksilver Is ‘Buy,’ Stock Analyst Says

A day after being pummeled by investors, Quiksilver Inc. stock was raised to a “buy” by the New York investment firm Ladenburg Thalmann & Co.

Analyst James Palczynski said that there still are “significant growth opportunities” in the company’s core youth market. Palczynski, who had rated Quiksilver a “long-term buy,” said he sees shares of the Costa Mesa apparel maker rising to $37 over the next 12 to 18 months.

Quiksilver stock rose 6 cents a share to $24.56 on Thursday. On Wednesday, the shares hit a 52-week low, falling $9.25, or 27%, after Hambrecht & Quist analyst Shelly Hale Young trimmed her 1998 earnings forecast because of higher costs.