UPDATE: Goldman Sachs Initiates Tumi Holdings at Buy on Secular Strength
Goldman Sachs initiated coverage on Tumi Holdings (NYSE: TUMI) with a Conviction List Buy rating and a $30 price target.
Goldman Sachs commented, "TUMI sits at the intersection of a number of positive investment themes. First, it is a beneficiary of favorable product cycles in both accessories and men's categories. Second, it is executing a powerful distribution upgrade as it builds out owned-retail stores in North America. Third, product and in-store execution has been solid. Finally, TUMI is uniquely exposed in our coverage to international growth opportunities over the long term."
Tumi Holdings closed at $21.70 on Monday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.