UPDATE: Wunderlich Securities Initiates Coverage On Oxford Industries On Multiple Positive Factors

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

with a Buy rating and $72.00 price target. In the report, Wunderlich Securities noted, “We are initiating coverage of Oxford Industries, Inc. (OXM), owner of the Tommy Bahama, Lilly Pulitzer, and Ben Sherman brands, with a Buy rating and price target of $72, or 20.9x our FY16 (January) EPS projection. We believe the company's core brands are strong, lifestyle-driven offerings that register premium margins and are capable of continued unit and overall expansion. With many of the company's tertiary issues receding, we believe the growth engines of Oxford (Tommy and Lilly) are poised to shine through, resulting in bottom-line upside and multiple expansion. As such, we are buyers of OXM.” Oxford Industries closed on Tuesday at $61.55.