UPDATE: Goldman Sachs Initiates Coverage on The Men's Wearhouse as Strategic Alterations Reveal Intrinsic Value
In a report published Wednesday, Goldman Sachs analyst Taposh Bari initiated coverage on The Men's Wearhouse (NYSE: MW) with a Buy rating and $45.00 price target.
In the report, Goldman Sachs noted, “We initiate coverage of MW with a Buy rating and a 12-month, $45 price target. We believe the stage is set for a dynamic next 12 months for MW as management reviews strategic alternatives for non-core asset K&G, including a potential sale, returns excess capital to shareholders, and focuses on organically growing its highest return Men's Wearhouse (US) and Moores (Canada) banners. We see investors re-valuing the stock higher as the annuity-like features of the tuxedo business become better appreciated and merchandising initiatives gain traction. A recent 18% correction in the stock following 2Q results creates an attractive entry point.”
The Men's Wearhouse closed on Tuesday at $32.79.
Latest Ratings for MW
Date | Firm | Action | From | To |
---|---|---|---|---|
Dec 2015 | Stifel Nicolaus | Downgrades | Buy | Hold |
Nov 2015 | Tigress Financial | Upgrades | Sell | Underperform |
Nov 2015 | Johnson Rice | Downgrades | Buy | Accumulate |
View More Analyst Ratings for MW
View the Latest Analyst Ratings
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