KeyBanc Tweaks Price Targets on Mid-Cap Apparel Universe, All Remain a Buy
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Price: $35.47 +3.23%
Rating Summary:
10 Buy, 7 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
10 Buy, 7 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Over the past couple of weeks, analysts at KeyBanc has meet with every company in its mid-cap apparel coverage universe, which includes Oxford Industries (NYSE: OXM), Liz Claiborne (NYSE: LIZ), G-III Apparel Group (NASDAQ: GIII), and Perry Ellis International (NASDAQ: PERY).
From the meeting, the firm believes that Lilly Pulitzer will be a key growth driver for OXM over the next three years and that the company will increase its store growth overtime as a result. KeyBanc estimates that Lilly could generate over $200 million in sales. OXM is expected to launch its first Tommy Bahama store in NYC this fall with the potential of additional stores in Asia as soon as 2013.
After meeting with CEO and President of Lucky, Dave DeMattei, the firm anticipates that its decision to focus more on their denim product will lead to 10 percent plus comps throughout 2011.
GIII could earn over $3.40 per share in earnings with a warmer fall season somewhat strong dress sales.
An analyst at KeyBanc comments, “The primary risks to our ratings and price targets continue to center around macroeconomic risk, particularly on the downside. Risks that could impede GIII, LIZ, OXM and PERY stocks from reaching our upside price targets include, but are not limited to: deterioration in the consumer spending environment, a slowdown in comparable store sales growth, and the fashion risk associated with being in a seasonal, cyclical and trend focused sector. Risks that could impede TRLG from reaching our downside price target include, but are not limited to: a significant positive improvement in the overall economy, which would subsequently impact consumer buying behavior.”
KeyBanc is reducing its price target on shares of GIII from $39 to $36 and is maintaining its Buy rating. The firm’s 2011 and 2012 EPS estimates are $3.10 and $3.80.
KeyBanc is reaffirming its Buy rating and $8 price target on shares of LIZ. The firm’s 2011 and 2012 EPS estimates are ($0.72) and $0.21.
KeyBanc is maintaining its Buy rating on shares of OXM while raising its price target from $42 to $45. The firm’s 2011 and 2012 EPS estimates are $2.25 and $2.77.
KeyBanc is reiterating its Buy rating and $35 price target on shares of PERY. The firm’s 2011 and 2012 EPS estimates are $2.56 and $2.81.
From the meeting, the firm believes that Lilly Pulitzer will be a key growth driver for OXM over the next three years and that the company will increase its store growth overtime as a result. KeyBanc estimates that Lilly could generate over $200 million in sales. OXM is expected to launch its first Tommy Bahama store in NYC this fall with the potential of additional stores in Asia as soon as 2013.
After meeting with CEO and President of Lucky, Dave DeMattei, the firm anticipates that its decision to focus more on their denim product will lead to 10 percent plus comps throughout 2011.
GIII could earn over $3.40 per share in earnings with a warmer fall season somewhat strong dress sales.
An analyst at KeyBanc comments, “The primary risks to our ratings and price targets continue to center around macroeconomic risk, particularly on the downside. Risks that could impede GIII, LIZ, OXM and PERY stocks from reaching our upside price targets include, but are not limited to: deterioration in the consumer spending environment, a slowdown in comparable store sales growth, and the fashion risk associated with being in a seasonal, cyclical and trend focused sector. Risks that could impede TRLG from reaching our downside price target include, but are not limited to: a significant positive improvement in the overall economy, which would subsequently impact consumer buying behavior.”
KeyBanc is reducing its price target on shares of GIII from $39 to $36 and is maintaining its Buy rating. The firm’s 2011 and 2012 EPS estimates are $3.10 and $3.80.
KeyBanc is reaffirming its Buy rating and $8 price target on shares of LIZ. The firm’s 2011 and 2012 EPS estimates are ($0.72) and $0.21.
KeyBanc is maintaining its Buy rating on shares of OXM while raising its price target from $42 to $45. The firm’s 2011 and 2012 EPS estimates are $2.25 and $2.77.
KeyBanc is reiterating its Buy rating and $35 price target on shares of PERY. The firm’s 2011 and 2012 EPS estimates are $2.56 and $2.81.
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