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Benchmark Upgrades True Religion Apparel (TRLG) to Buy; Expecting Growth in 2012

April 9, 2012 7:18 AM EDT
Get Alerts TRLG Hot Sheet
Price: $31.98 --0%

Rating Summary:
    1 Buy, 7 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Benchmark upgraded True Religion Apparel (NASDAQ: TRLG) to Buy with a price target of $32.00.

Benchmark analyst said, "We believe spring fashion has been well received with lots of color, even colored denim. While we believe the unseasonably warm and dry weather has provided a significant lift to spring apparel, we believe this color denim trend has legs. We have noticed that the Saks (NYSE: SKS) denim department has expanded its jean offerings. Saks had cut their denim department to about 50% jeans and 50% tops and related items. On recent visits, it appears to us that Saks has expanded the jean portion of the denim department with the addition of color."

"While we maintained our FY12 EPS estimate of $1.92 and our FY13 of $2.10, we believe there could be upside from a new replenishment cycle driven by color."

For an analyst ratings summary and ratings history on True Religion Apparel click here. For more ratings news on True Religion Apparel click here.

Shares of True Religion Apparel closed at $26.32 yesterday.


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