True Religion Apparel "buy," target price raised

16.06.08 - Brean Murray, Carret & Co

NEW YORK, June 16 (newratings.com) - Analyst Eric M Beder of Brean Murray reiterates his "buy" rating on True Religion Apparel Inc (TRLG), while raising his estimates for the company. The target price has been raised from $29 to $30.

In a research note published this morning, the analyst mentions that the company is driving its sales with new products and categories. True Religion Apparel, with its Boston store opening last week, has achieved the store openings estimate for 2Q08, the analyst says. The company has a number of performance drivers in 2008 and 2009, Brean Murray adds. The EPS estimates for 2008 and 2009 have been raised from $1.57 to $1.62 and from $1.89 to $1.95, respectively.