Benchmark Maintains a 'Buy' on True Religion Apparel (TRLG); Raising Numbers as Q1 Surprises Positively

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Benchmark maintains a 'Buy' on True Religion Apparel (NASDAQ: TRLG) price target raised from $32 to $38.

Analyst, Ronald Bookbinder, said, "True Religion was full of surprises when reporting Q1 results. The Company positively surprised on revenues, leverage of SG&A, a share repurchase authorization, and announcement of a dividend. We believe spring fashion has been well received with lots of color, and as the Company is engineering product to be more competitively priced. We expect color, new sportswear products, and competitively priced product to continue to drive sales in the remainder of the year. We increased our FY12 EPS estimate to $1.97, from $1.92."

For an analyst ratings summary and ratings history on True Religion Apparel click here. For more ratings news on True Religion Apparel click here.

Shares of True Religion Apparel closed at $27.88 yesterday, with a 52 week range of $24.71-$37.82.

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