Benchmark reiterates a Buy rating on Iconix Brand Group ICON and a price target of $20.
Benchmark noted, “We expect EPS in line with our estimate of $0.41, and consensus of $0.41. While we are concerned about the weak comp trend at retailers, Iconix is repurchasing shares and could repurchase 10%-15% of the shares outstanding. Our FY2012 EPS estimate remains $1.65 and our price target is $20, based on 12x our 2012E EPS. Given the upside to our price target, we maintain our Buy rating.”
Iconix Brand group closed at $17.41 on Friday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in