UPDATE: Wunderlich Securities Reiterates Buy Rating, Raises PT on Oxford Industries, Inc. on Solid 4Q Results

In a report published Friday, Wunderlich Securities analyst Eric Beder reiterated a Buy rating on

, and raised the price target from $72.00 to $78.00. In the report, Wunderlich Securities noted, "We are raising our price target to $78 (from $72), our FY16E EPS to $3.53 (from $3.35,) and our FY17E EPS to $3.96 (from $3.75) after the company reported sterling 4Q results and provided solid guidance for 1Q and FY17; further, management (finally) announced plans to divest the money-losing Ben Sherman division, which is a highly material step to Oxford becoming an even more impressive growth vehicle. All in all, 4Q and the FY16 changes are a ringing reminder that the company's focus on well-defined, upper-income-driven lifestyle brands has allowed it to weather the economic storm and leave the company positioned for solid and highly profitable growth, a rarity in the sector. We reiterate our Buy rating on OXM shares." Oxford Industries, Inc. closed on Thursday at $59.51.