Brean Murray Carret & Co. Upgrades Warnaco Group (WRC) to Buy; Time to Get Aggressive

May 23, 2012 7:16 AM EDT
Get Alerts WRC Hot Sheet
Price: $73.52 --0%

Rating Summary:
    1 Buy, 11 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 31 | New: 34
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Brean Murray Carret & Co. upgraded Warnaco Group (NYSE: WRC) from Hold to Buy with a price target of $55.00.

Analyst, Eric Beder, said, "With WRC trading within 10% of its 52-wk low, competitor GUESS? (NYSE: GES)(BUY-rated) providing relatively upbeat guidance on Europe and Korea and Calvin Klien owner PVH Corp (NYSE: PVH) on track to announce solid results tonight after the close, we believe now is an apt time to become more aggressive in WRC. We believe after another humbling reduction in guidance, that the company has crafted a case which assumes virtually no recoveries in the key European or Korean markets and leaves rooom for upside via lower cotton pricing ancd potential leveragee from increased sq ft expansion."

For an analyst ratings summary and ratings history on Warnaco Group click here. For more ratings news on Warnaco Group click here.

Shares of Warnaco Group closed at $43.28 yesterday.

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