UPDATE: Credit Suisse Upgrades Tumi Holdings to Outperform on Q2 Execution
Credit Suisse raised its rating on Tumi Holdings (NYSE: TUMI) from Neutral to Outperform and increased its price target from $23 to $25.
Credit Suisse commented, "Following a solid 2Q beat on sustained demand momentum as well as strong management of margins and expenses, we have increasing conviction that longer-term market share capture and margin expansion trends are playing out. We raise our target price from $23 to $25 and upgrade our rating to Outperform (from Neutral)."
Tumi Holdings closed at $18.51 on Monday.
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