Needham & Company Reiterates a 'Buy' on True Religion Apparel (TRLG); Keeping The Faith, Raising Estimates & PT

Needham & Company reiterates a 'Buy' on True Religion Apparel (NASDAQ: TRLG) price target raised from $35 to $39.

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 102 U.S and 7 international stores. 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."

"We are raising our F3Q, F4Q, & FY11 EPS estimates to $0.51, $0.71, & $1.96, up from $0.50, $0.70, & $1.93. We are raising our F1Q, F2Q, F3Q, F4Q & FY12 EPS estimates to $0.41, $0.52, $0.63, $0.86, & $2.42, respectively, from $0.40, $0.45, $0.61, $0.86, and $2.32."

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 $29.71 yesterday.

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