UPDATE: Gilford Securities Raising Price Target On Dreams (DRJ)

Gilford Securities is raising its price target on shares of Dreams Inc. DRJ to $4 and it has a Buy rating. In a note to clients, Gilford writes, "Dreams Inc. (DRJ) produced excellent revenue growth of 30.2% for the full year and 40% for the all-important Christmas quarter. There were strong comparisons across the board except for the Field of Dreams brick & mortar stores which continue to be in a wind-down phase. We expect to see further one-time charges related to store closings at 2011 proceeds. For the full year DRJ cracked through the $100 million revenue mark, producing $111 million for the year versus $85 million in 2009. @010 Q4 EPS was $0.09 versus $0.08 the prior year, clearly less than we expected given the strong revenue growth." Shares of DRJ are up 5 cents in early Monday trading to $2.34.