True Religion May Have Increased Odds For Sale With Recent Management Move
Since Jeff Lubell, the CEO of True Religion (NASDAQ: TRLG) stepped down Tuesday night, the odds of the company being purchased have increased, according to Brean Capital analyst Eric Beder.
Beder noted that the management change has presented a scenario where the potential buyer could implement its own management team at a much lower cost, which he believes would be the main catalyst for making the move.
In the event that True Religion is purchased, he believes that $32 per share would be the minimum level based on price-to-earnings valuations.
TRLG most recently closed at $27.16 on Tuesday, March 19th.
Latest Ratings for TRLG
|Jul 2013||Brean Capital||Downgrades||Buy||Hold|
|May 2013||Tigress Financial||Downgrades||Strong Buy||Neutral|
|May 2013||B. Riley||Downgrades||Buy||Neutral|
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