UPDATE: Initiates Coverage on Vince Holdings Corp. with Hold Rating as Positives are Fully Reflected in Share Price

In a report published Tuesday, Stifel analyst Richard Jaffe initiated coverage on Vince Holdings Corp. (NYSE: VNCE) with a Hold rating.In the report, Stifel noted, “We are initiating coverage of Vince Holding Corp. (VNCE) with a Hold rating. The outlook for the company is favorable, in our opinion, given its trend-right, attractive, and broadly appealing product and very good visibility for sales and earnings growth potential. We anticipate continued sales increases driven by new stores, enhanced store merchandising, new product categories, increased brand awareness and an updated website. In addition, improved productivity in the wholesale business will likely contribute to an increase in operating margin. However, with the stock trading at 33x our 2014 EPS estimate of $0.96, we believe these positives are nearly fully reflected in the share price. We therefore rate the shares a Hold.”Vince Holding Corp. closed on Monday at $31.67.