The Benchmark Company Maintains Buy Rating and $38 PT on True Religion Apparel

A report from the Benchmark Company reiterates its Buy rating and $38 price target on True Religion Apparel

. The report states, “Strong comps and international growth continue to drive earnings going forward. True Religion soundly beat expectations, primarily driven by strong revenues from the high margin consumer direct business. We expect revenue and earnings to continue to grow as the Company rolls out Company-owned stores, drives comps through increased conversion and better product offerings, expands internationally, and improves its US Sales effort." TRLG closed yesterday at $32.88.