UPDATE: Citigroup Reiterates on Iconix Brand Following Model Update
In a report published Friday, Citigroup analyst Kate McShane reiterated a Neutral rating on Iconix Brand (NASDAQ: ICON), and raised the price target from $40.00 to $41.00.
In the report, Citigroup noted, “Updating model for Q4 results. Target price updated to reflect updated EPS estimates post-Q4 earnings. FY14 and FY15 EPS revised to $2.65 and $3.00 respectively. Introducing FY16 EPS of $3.34. Target price to $41, from $40 previously.”
Iconix Brand closed on Thursday at $39.11.
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