Needham & Company Reiterates a 'Buy' on True Religion (TRLG); Converting More Believers; Raising Estimates & PT
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Price: $31.98 --0%
Rating Summary:
1 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Needham & Company reiterates a 'Buy' on True Religion Apparel (NASDAQ: TRLG), PT increased from $33 to $35.
Needham analyst says, "TRLG is well-positioned for continued growth in Int’l and U.S. retail, which is far from reaching saturation in the U.S. market with only 96 U.S and 8 international stores. Retail is driving sales growth and enables TRLG to better control pricing and likely will be 58% of sales by the end of FY11 vs. 52% LY. TRLG is one of the top brand names in premium denim offering highly differentiated fashion denim with an aspirational lifestyle image. Thus, TRLG is one of the few brands offering compelling merchandise to customers and getting Full Price for it. We believe the fashion shift to wider leg bottoms will be a catalyst for a new denim cycle, which benefits TRLG given its heritage. Thus, we believe that TRLG will continue to experience strong sales momentum and build market share."
"We are adjusting our F2Q and FY11 EPS estimates to $0.37 and $1.93, respectively, from $0.43, and $1.89...We are adjusting our F1Q, F2Q, F3Q, and FY12 EPS estimates to $0.40, $0.45, $0.61 and $2.32, respectively, from $0.28, $0.47, $0.58, and $2.19."
For more ratings news on True Religion Apparel click here and for the rating history of True Religion Apparel click here.
Shares of True Religion Apparel closed at $27.79 yesterday.
Needham analyst says, "TRLG is well-positioned for continued growth in Int’l and U.S. retail, which is far from reaching saturation in the U.S. market with only 96 U.S and 8 international stores. Retail is driving sales growth and enables TRLG to better control pricing and likely will be 58% of sales by the end of FY11 vs. 52% LY. TRLG is one of the top brand names in premium denim offering highly differentiated fashion denim with an aspirational lifestyle image. Thus, TRLG is one of the few brands offering compelling merchandise to customers and getting Full Price for it. We believe the fashion shift to wider leg bottoms will be a catalyst for a new denim cycle, which benefits TRLG given its heritage. Thus, we believe that TRLG will continue to experience strong sales momentum and build market share."
"We are adjusting our F2Q and FY11 EPS estimates to $0.37 and $1.93, respectively, from $0.43, and $1.89...We are adjusting our F1Q, F2Q, F3Q, and FY12 EPS estimates to $0.40, $0.45, $0.61 and $2.32, respectively, from $0.28, $0.47, $0.58, and $2.19."
For more ratings news on True Religion Apparel click here and for the rating history of True Religion Apparel click here.
Shares of True Religion Apparel closed at $27.79 yesterday.
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