J. Crew Group Upgraded (JCG)

Brean Murray upgraded J. Crew Group, Inc. (NYSE: JCG) this morning to Buy from Hold and set a price target of $50.

The firm believes J. Crew will benefit from its strong fashion sense, compelling price/value relationship, strong inventory discipline and very easy comparisons going forward.

While other retailers struggled during the recession, J. Crew thrived and managed to gain market share from competitors and produce positive same store sales numbers year-over-year.

Shares of the retailer have pulled back off their 52-week high of $46.63 and now trade at $40.81. With a price target of $50, Brean Murray sees 18% upside from current levels.