Piper Jaffray is out with a research report this morning, where it reiterates its Overweight rating on G-III Apparel. GIII; it has a $42.00 price target on the stock.
The PJ analysts cited a recent, upbeat investor presentation from Wayne Miller (COO) and Neal Nackman (CFO). While the outerwear business started slow during the fall season, the company did experience a meaningful acceleration as the weather turned cold through the holiday season.
A better outerwear season, coupled with the analysts' belief that business trends have remained consistent into 2011 for apparel retailers, should support a meet or beat Q4 for GIII, in their view.
As for valuation, the analysts remarked, “[Our] Price Target of $42 based on 13x FY12E EPS of $3.25.”
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Posted In: Analyst ColorPrice TargetAnalyst RatingsApparel, Accessories & Luxury GoodsConsumer DiscretionaryHealth CareHealth Care SuppliesPiper Jaffray
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