Brean Murray Carret & Co. Raises Price Target on True Religion Apparel (TRLG), Nows the Time to Buy
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Price: $31.98 --0%
Rating Summary:
1 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
1 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Brean Murray Carret & Co. is maintaining its Buy rating on shares of True Religion Apparel (NASDAQ: TRLG) and is raising its price target from $36 to $38.
The company reported solid Q2 results with EPS of $0.38, $0.05 ahead of the Street and $0.07 above the firm. Revenue for the quarter rose 19.6 percent to $98.3 million, 7.3 percent ahead of the of the Street. Operating income increased 80 bps for the quarter to 15.4 percent and was 120 bps above the firms estimate.
The firm is raising its FY11 EPS estimate from $1.82 to $1.91 and its 2012 estimate from$ 2.25 to $2.31. They are forecasting $426.9 million and $493.6 million in revenue for the two years.
An analyst at Brean Murray Carret comments, "We believes the continued shift to owned stores, which registered double-digit comps, and the rapidly growing international segment, have served to create a materially more robust business model for True Religion which is primed to drive material returns and create a true, enduring lifestyle brand well worth a premium valuation."
The firm encourages investors to buy shares of TRLG now as a majority of investors are currently focused on the domestic wholesale segment.
For more ratings news on True Religion Apparel click here and for the rating history of True Religion Apparel click here.
Shares of True Religion Apparel closed at $29.71 yesterday.
The company reported solid Q2 results with EPS of $0.38, $0.05 ahead of the Street and $0.07 above the firm. Revenue for the quarter rose 19.6 percent to $98.3 million, 7.3 percent ahead of the of the Street. Operating income increased 80 bps for the quarter to 15.4 percent and was 120 bps above the firms estimate.
The firm is raising its FY11 EPS estimate from $1.82 to $1.91 and its 2012 estimate from$ 2.25 to $2.31. They are forecasting $426.9 million and $493.6 million in revenue for the two years.
An analyst at Brean Murray Carret comments, "We believes the continued shift to owned stores, which registered double-digit comps, and the rapidly growing international segment, have served to create a materially more robust business model for True Religion which is primed to drive material returns and create a true, enduring lifestyle brand well worth a premium valuation."
The firm encourages investors to buy shares of TRLG now as a majority of investors are currently focused on the domestic wholesale segment.
For more ratings news on True Religion Apparel click here and for the rating history of True Religion Apparel click here.
Shares of True Religion Apparel closed at $29.71 yesterday.
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