UPDATE: Wedbush Raises Target on on Liz Claiborne to $15

Wedbush increases its price target on Outperform-rated Liz Claiborne LIZ to $15, up $3, following announcement of new CFO. Wedbush notes, "LIZ mgmt. announced the hiring of a new CFO/COO George Carrara, effective April 2. Mr. Carrara has a multi-channel retail industry background having most recently been the CFO of Tommy Hilfiger from 1999 until its buyout in 2010. He also, in our view, has the necessary Operations expertise to guide the company through its turnaroundand we believe that further personnel changes within the Finance, Operations or IT teams will be minimal." LIZ closed at $11.84 a share yesterday.