Associated Press, 09.21.10, 12:58 PM EDT
NEW YORK --Hot Topic has named two new directors and increased its board's size to nine members from seven.
THE OPINION: Jeff Van Sinderen of B. Riley & Co. expects the teen retailer's board to be helped by the skills that Steven R. Becker and Matthew A. Drapkin of investment firm Becker Drapkin Management will bring to the table.
"We strongly believe that there is little downside to adding new insightful members to the board," Sinderen wrote in a client note. He reaffirmed a "Buy" rating and $7.50 price target.
THE STOCK: Shares of Hot Topic, based in City of Industry, Calif., shed a penny to $5.55 in afternoon trading.