Sterne Agee is introducing a Jos. A. Bank Clothiers, Inc. JOSB FY12 estimate of $4.08 and raising its price target to $61 from $56 based upon 15x its FY12 estimate.
“Our FY10 and FY11 estimates are unchanged at $3.08 and $3.52,” Sterne Agee writes. “Our FY12 estimate assumes tux rental revenues double from FY11 levels at $72 million with a gross margin rate under 60% but benefits from SG&A leverage.”
Jos. A. Bank Clothiers, Inc. currently trades at $44.73.
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