KeyBanc Upgrades Oxford Industries (OXM) from Hold to Buy; Valuation Attractive
OXM Hot Sheet
Rating Summary:3 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
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 Industrie 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.
KeyBanc analyst says, "Given stronger trends, adroit execution, and favorable 2H09 comparisons at Tommy Bahama, we are upgrading Oxford Industrie 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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