Wells Fargo Starts Elizabeth Arden (RDEN) at Outperform; Confidence in Management's Ability to Execute

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Wells Fargo initiates coverage on Elizabeth Arden (NASDAQ: RDEN) with an Outperform. PT range $42-44.

Analyst, Timothy Conder, said, "The company is in the initial phase of implementing a long-term growth strategy that we believe should accelerate top-line growth and expand operating margin. Mid- to high-single-digit organic sales growth...We expect (1) improved product mix, (2) reduction of low-profitability distribution, (3) overhead sales leverage, and (4) pricing to drive margin expansion and resultant solid double-digit EPS growth.

For an analyst ratings summary and ratings history on Elizabeth Arden click here. For more ratings news on Elizabeth Arden click here.

Shares of Elizabeth Arden closed at $36.56 yesterday, with a 52 week range of $25.86-$40.19.

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