Deutsche Bank Starts Perry Ellis (PERY) at Buy; Growth Opportunities, Attractive Valuation
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Price: $27.50 --0%
Rating Summary:
6 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Deutsche Bank initiates coverage on Perry Ellis (NASDAQ: PERY) with a Buy. PT $33.
Deutsche analyst says, "We’re positive on PERY shares, given several emerging top-line/margin drivers and current business momentum. For example, PERY is in the early innings of women’s apparel, is dominating in the Golf & Hispanic segments, and core men’s Perry Ellis is buoyed by strong Dept. store trends. We look for EBIT margin to expand over time, as a low-cost operating structure and merch. margin (shift to higher margin categories) offset a difficult apparel macro. $33 PT based on ~14x our FY12 EPS, supported by the valuation on a basket of apparel peers."
For more ratings news on Perry Ellis click here and for the rating history of Perry Ellis click here.
Shares of Perry Ellis closed at $28.82 yesterday.
Deutsche analyst says, "We’re positive on PERY shares, given several emerging top-line/margin drivers and current business momentum. For example, PERY is in the early innings of women’s apparel, is dominating in the Golf & Hispanic segments, and core men’s Perry Ellis is buoyed by strong Dept. store trends. We look for EBIT margin to expand over time, as a low-cost operating structure and merch. margin (shift to higher margin categories) offset a difficult apparel macro. $33 PT based on ~14x our FY12 EPS, supported by the valuation on a basket of apparel peers."
For more ratings news on Perry Ellis click here and for the rating history of Perry Ellis click here.
Shares of Perry Ellis closed at $28.82 yesterday.
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