Mizuho Securities analyst Betty Chen reiterated a Buy rating and raised her price target on The Men's Wearhouse, Inc. (NYSE: MW) to $70.00 (from $60.00), saying while they are looking for just an in-line Q1 the focus should be on FY16 and beyond synergies.

Chen commented, "We are raising our PT to $70 and continue to view MW as a multi-year transformational story as each quarter of execution increases investor confidence in the outlined FY17 EPS target of $5.75-6.25. Although JAB comps may remain under pressure until 2H as the concept clears through inherited product, we believe the TMW division continues to perform well from on-trend merchandise, sharp marketing and the Joseph Abboud collection. With the company approaching the step up in synergies in FY16, we view current valuation as compelling and continue to maintain our Buy rating."

For an analyst ratings summary and ratings history on The Men's Wearhouse, Inc. click here. For more ratings news on The Men's Wearhouse, Inc. click here.

Shares of The Men's Wearhouse, Inc. closed at $59.67 yesterday.