Brean Murray Carret & Co: True Religion Apparel Continues to Take Over the Premium Denim Market

According to a research report this morning, True Religion Apparel TRLG continues to take market share within its niche market and push growth to the next level. Brean Murray Carret & Co stated, “We believe True Religion continues to take market share in the premium denim market and is taking the necessary steps to revive the women's business and create a more compelling business model for the international segment, which remains a material growth vehicle. Further, we believe management remains focused on controlling expenses and driving efficiencies. As such, and with a value of 12.4X our 2013 EPS projection, a dividend yield of 2.8% and over $8.00 per share in net cash, we believe the risk/reward in TRLG remains highly impressive.” True Religion Apparel closed yesterday at $28.24 as Brean Murray Carret & Co maintains its Buy rating and $37 PT.