UPDATE: Brean Murray Carret Raises Guess? PT

According to a research report published earlier today, Brean Murray Carret has increased Guess? Inc.'s GES PT from $39 to $50. In the report, Brean Murray Carret commented, “We are reiterating our Buy rating, raising our price target to $50 (from $39), maintaining and rolling out a back end weighted FY13 EPS projection of $3.50, and introducing FY14 EPS of $3.90 (up 11.3% YoY) with the company on track to announce 4QFY12 (January) results after the close on Wednesday. We believe, after a tough FY12, that GUESS? Is poised to shine in FY13, especially after a 1Q which will be dragged down by one time strategy shifts.” Guess? closed Friday at $35.94.