Wedbush Starts Liz Claiborne (LIZ) at Outperform; Earnings Recovery to Fuel Momentum in 2012

Wedbush initiates coverage on Liz Claiborne (NYSE: LIZ) with an Outperform. PT $12.00.

Wedbush analyst said, "We rate shares of LIZ an OUTPERFORM as the company’s recent restructuring is largely complete allowing for a turnaround to unfold. We believe the company’s business model is at an inflection point, moving from a traditional apparel wholesale model to a global retail model focusing on high-growth categories such as accessories."

"We expect merchandising and operational changes across the three remaining brands Juicy, Lucky and Kate Spade to fuel top-line improvement and when combined with significant cost rationalizations across the company, should contribute to operating leverage, earnings recovery and drive continued momentum in the shares over the next 12 months."

For an analyst ratings summary and ratings history on Liz Claiborne click here. For more ratings news on Liz Claiborne click here.

Shares of Liz Claiborne closed at $9.78 yesterday.

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