UPDATE: Wunderlich Securities Initiates Coverage on G-III Apparel Group Ltd. with Buy Rating, $92 PT on Multiple Positive Factors

In a report published Friday, Wunderlich Securities analyst Eric Beder initiated coverage on

with a Buy rating and $92.00 price target. In the report, Wunderlich Securities noted, “We are initiating coverage of G-III Apparel Group, Ltd. (GIII), a leading apparel manufacturer and retailer, with a Buy rating and target of $92, or 18.7x our FY16 EPS projection of $4.93. G-III is a dominant player in the outerwear, team sports, and dress categories, with emerging positions in women's sportswear, accessories, and active wear categories via licensing agreements with Calvin Klein, GUESS? (GES-$25.48, Buy), Ellen Tracy, Kensie, and most sports leagues. Further, G-III has aggressively expanded its own brand stable, buying Andrew Marc, Wilsons Leather, Vilebrequin, and G.H. Bass. We view the company's strong management team as well positioned to drive organic and acquisition-driven growth and believe G-III is among the best positioned players in the apparel industry.” G-III Apparel Group Ltd. closed on Thursday at $77.16.