UPDATE: Wedbush Raises Liz Claiborne's PT

According to a research report published this morning, Wedbush has increased Liz Claiborne's LIZ PT from $15 to $16. In the report, Wedbush commented, "LIZ reported 1Q EBITDA loss of $1m but reiterated full year EBITDA guidance of $125-140m. This marks the 2nd quarter that management did not lower guidance, confirming our view that the shares and model are at an inflection point." Wedbush maintains its Outperform rating on Liz Claiborne, which is currently trading at $13.96.