Brean Murray Carret & Co. Downgrades Warnaco Group (WRC) to Hold; Moving to Sidelines; Street Expectations Too High

Brean Murray Carret & Co. downgraded Warnaco Group (NYSE: WRC) from Buy to Hold.

Brean analyst says, "While we continue to believe the company remains one of the better longer term international growth stories in our universe, with a strong management team and a premier brand (Calvin Klein), we believe the Street is aggressive on 4Q11 and, more importantly, 1H12, as Warnaco will be facing a series of negatives, from FX issues to limited price increases to a more normalized square footage rollout schedule. We will continue to look for the next time when the risk/reward in WRC allows us to become more constructive in the name."

For an analyst ratings summary and ratings history on Warnaco Group click here. For more ratings news on Warnaco Group click here.

Shares of Warnaco Group closed at $59.27 yesterday.

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