Brean Murray Upgrades J. Crew

Brean Murray, Carret & Co. upgraded shares of apparel retailer J. Crew (JCG) to ''buy'' from ''hold'' noting that the clothing chain is well-positioned to benefit as consumers start parting with their money again. The research firm placed a $50 price target on the stock, representing nearly 25% upside from where the shares currently trade.

Brean Murray added that holiday shopping season may have been J. Crew's best ever, saying that the company is among the top mall-based retailers. J. Crew shares got a nice jolt in 2009 after First Lady Michelle Obama and her daughters were seen frequently sporting J. Crew apparel.