Analysts at Wunderlich Securities initiated coverage on Perry Ellis International, Inc. (NASDAQ: PERY) with a Buy rating and $25 price target Friday.
Eric Beder stated,”management has refocused the company on higher margin core operations, materially cut expenses, and positioned the business to drive top and bottom line upside.”
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Key points to consider for the upgrade include:
- Perry Ellis is a major supplier to many “big box” retailers
- The company significantly improved its business model; Perry Ellis cut expenses, reduced impact of tertiary brands, cut lower margin products, and upgraded the company’s retail operations.
- Perry Ellis is creating a licensing “powerhouse.” Analysts stated, ”we believe that the company's licensing operations are worth over 50% of the company's enterprise value.”
Shares of Perry Ellis closed Thursday at $20.34
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.