Benchmark Previews Q2 Earnings for Perry Ellis International

Benchmark has published a research report on Perry Ellis International (NASDAQ: PERY) previewing Q2 earnings for the apparel maker.

In the report, Benchmark wrote, "We expect EPS in line with our estimate of $0.05 and just above consensus of $0.04. Our 2011 EPS estimate is $2.47, towards the high-end of guidance range of $2.40-$2.50, though we believe there is upside potential in the back half of the year as we believe, and management states, they have been very conservative in estimating earnings and revenues in the second half of this year. Our price target of $36 is based on 7x our 2011 EBITDA estimate."

Benchmark rated Perry Ellis a Buy with a price target of $36.00. Perry Ellis closed Monday at $19.45.