KeyBanc Upgrades G-III Apparel (GIII) to Buy; Elements of Growth at a Value Price
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Price: $33.78 +1.81%
Rating Summary:
10 Buy, 8 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
10 Buy, 8 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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KeyBanc upgraded G-III Apparel (NASDAQ: GIII) to Buy. PT $42.
KeyBanc analyst says, "We think G-III Apparel Group, Ltd. has a number of attractive growth opportunities and valuation at 8.9x 2012 P/E is compelling, we move to BUY. We have long believed that G-III had superior growth prospects, driven from a combination of its Calvin Klein sportswear business and dresses. We think that the Calvin Klein small leather goods business represents a strong growth opportunity, and by our math, could contribute in excess of $1.00 in EPS. Furthermore, G-III has not completed an acquisition over the past 24 months, unlike others in its peer group (Oxford/Lilly Pultizer and Perry Ellis/Rafaella). Management has been quite open about its desire to complete an acquisition, which should drive upside to current estimates."
"We are raising our 2012 EPS estimate from $3.69 to $3.80 due to our confidence in the Company's ability to drive low double-digit revenue growth and modest operating margin expansion."
For more ratings news on G-III Apparel click here and for the rating history of G-III Apparel click here.
Shares of G-III Apparel closed at $33.98 yesterday.
KeyBanc analyst says, "We think G-III Apparel Group, Ltd. has a number of attractive growth opportunities and valuation at 8.9x 2012 P/E is compelling, we move to BUY. We have long believed that G-III had superior growth prospects, driven from a combination of its Calvin Klein sportswear business and dresses. We think that the Calvin Klein small leather goods business represents a strong growth opportunity, and by our math, could contribute in excess of $1.00 in EPS. Furthermore, G-III has not completed an acquisition over the past 24 months, unlike others in its peer group (Oxford/Lilly Pultizer and Perry Ellis/Rafaella). Management has been quite open about its desire to complete an acquisition, which should drive upside to current estimates."
"We are raising our 2012 EPS estimate from $3.69 to $3.80 due to our confidence in the Company's ability to drive low double-digit revenue growth and modest operating margin expansion."
For more ratings news on G-III Apparel click here and for the rating history of G-III Apparel click here.
Shares of G-III Apparel closed at $33.98 yesterday.
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