KeyBanc upgrades Oxford Industries (OXM) to Buy; Strong Trends
More News related to OXM
- Oxford Industries to Release Third Quarter Fiscal 2009 Results on December 9, 2009
- Oxford Industries Announces Participation in the Bank of America Merrill Lynch 2009 Credit Conference
- Tommy Bahama Announces New Co-Branded Collection of Limited Edition Major League Baseball Apparel
- KeyBanc Lifts Price Target on Oxford (OXM) to $20
- KeyBanc upgrades Oxford Industries (OXM) to Buy; Strong Trends
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KeyBanc upgrades Oxford Industries (NYSE: OXM) from Hold to Buy. Price target $18.
KeyBanc analyst says, "Given stronger trends, adroit execution, and favorable 2H09 comparisons at Tommy Bahama, we are upgrading Oxford Industries to BUY. The Company has adeptly executed during much of the downturn and has exited underperforming businesses while maintaining pricing discipline. The 2Q's results begin to bear fruit of this and, in particular, an aggressive $50 million reduction in run-rate SG&A. Our recent management meetings, coupled with channel checks, point to sustained momentum within Tommy Bahama. At 0.5x EV/Sales (vs. a 0.7x Apparel group mean and a 1.4x Specialty Retail group mean), we find the valuation attractive."
To see more analyst ratings on OXM Click Here.
Oxford Industries, Inc. engages in the design, production, sale, and distribution of branded and private label apparel, and footwear for men, women, and children primarily in the United States and the United Kingdom.
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