Brean Capital Downgrades True Religion Apparel (TRLG) to Hold

July 10, 2013 7:14 AM EDT
Get Alerts TRLG Hot Sheet
Price: $31.98 --0%

Rating Summary:
    3 Buy, 8 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 34 | New: 34
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Brean Capital downgraded True Religion Apparel (NASDAQ: TRLG) from Buy to Hold.

Analyst Eric Beder said, "With TRLG within 1% of its takeout price and the transaction scheduled to close at the end of the month, we see no reason to squeeze the final drop of upside out of the name and are taking the rating for TRLG to a Hold (from Buy). While the release of 2Q sales numbers shows a business in stabilization, there is nothing there to drive any potential counter offers and we fully expect the going private transaction to close. As such, we see no reason to be aggressive in TRLG."

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 $31.81 yesterday.

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