Needham & Company Reiterates a 'Buy' on True Religion Apparel (TRLG); Continued Brand Momentum After Management Meeting at PROJECT Tradeshow

Needham & Company reiterates a 'Buy' on True Religion Apparel (NASDAQ: TRLG) price target of $39.00.

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. One of the top brand names in premium denim offering highly differentiated fashion denim with an aspirational lifestyle image, 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 think TRLG will continue to experience strong sales momentum and build market share. At ~11x our FY12 EPS estimate of $2.42 (~9x excluding ~$7 in cash), TRLG is trading below the sector average of ~12x and at a discount to its conservative long term organic growth rate of about 15% to 18%."

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 $28.18 yesterday.

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