Needham & Company Reiterates a 'Buy' on Perry Ellis (PERY); FY11 Outlook Raised and Current Trends Remain Strong
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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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Needham & Company reiterates a 'Buy' on Perry Ellis (NASDAQ: PERY) price target of $34.00.
Needham analyst says, "PERY’s diverse brand portfolio provides long term growth opportunities fueled by Women’s (Laundry, C&C and recent acquisition Rafaella), Perry Ellis, Golf, Hispanic, Swim, International, Retail, and Licensing. At ~6.2x our increased FY12 EPS estimate of $2.90, PERY is trading significantly below the sector average of ~11x. We think PERY should trade at least in-line with the midpoint of its long term growth rate of 10% to 15% as we expect revenue growth and EBITDA expansion in 2011 and beyond."
"We are increasing our FY11 EPS estimate by 7 cents to $2.61, up from $2.54 to account for the 7 cent beat in F2Q vs. our original estimate...We are adjusting our F2Q and FY12 EPS estimates to $0.12 and $2.90, respectively, up from $0.08 and $2.86."
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 $18.03 yesterday.
Needham analyst says, "PERY’s diverse brand portfolio provides long term growth opportunities fueled by Women’s (Laundry, C&C and recent acquisition Rafaella), Perry Ellis, Golf, Hispanic, Swim, International, Retail, and Licensing. At ~6.2x our increased FY12 EPS estimate of $2.90, PERY is trading significantly below the sector average of ~11x. We think PERY should trade at least in-line with the midpoint of its long term growth rate of 10% to 15% as we expect revenue growth and EBITDA expansion in 2011 and beyond."
"We are increasing our FY11 EPS estimate by 7 cents to $2.61, up from $2.54 to account for the 7 cent beat in F2Q vs. our original estimate...We are adjusting our F2Q and FY12 EPS estimates to $0.12 and $2.90, respectively, up from $0.08 and $2.86."
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 $18.03 yesterday.
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