Xcel Brands (XELB) PT Raised to $5 at DA Davidson

DA Davidson analyst Michael Kawamoto raised the price target on Xcel Brands (NASDAQ: XELB) to $5.00 (from $4.00) while maintaining a Buy rating following the company's 1Q earnings report. XELB reported 1Q19 revenue and adjusted EPS of $10.3M and $0.08, compared to estimates of $11.0M and $0.05. Total operating expenses increased 5.6%, leading to an adjusted EBITDA of $2.0M.

DA Davidson's 2Q19 revenue and EPS estimates are now $10.2M and $0.06. Updated 2019 and 2020 revenue and EPS estimates are $45.1M and $0.40, and $51.8M and $0.50.

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