Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Morgan Keegan Downgrades True Religion Apparel


From Standard & Poor's Equity Research

Morgan Keegan downgraded True Religion Apparel (TRLG) to market perform from outperform.

Analyst Brad Stephens says the downgrade is based on both valuation and his belief that True Religion's strategic review will result in an event other than an outright sale of the company. He expects True Religion to eventually name either a strategic partner or, less likely, a recapitalization of the company; he puts only a small probability on an outright sale of True Religion.

Stephens notes that the downgrade is not "a short call" on True Religion's fundamentals. In fact, believes upside exists to guidance if current trends continue.

The analyst maintains EPS estimates of 42 cents for the third quarter, 30 cents for the fourth quarter, $1.25 for 2006, and $1.50 for 2007.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus