UPDATE: Citigroup Reiterates Neutral Rating, Raises PT on Iconix Brand Group Following Model Update

In a report published Friday, Citigroup analyst Kate McShane reiterated a Neutral rating on

, and raised the price target from $40.00 to $41.00. In the report, Citigroup noted, “Updating model for Q4 results. Target price updated to reflect updated EPS estimates post-Q4 earnings. FY14 and FY15 EPS revised to $2.65 and $3.00 respectively. Introducing FY16 EPS of $3.34. Target price to $41, from $40 previously.” Iconix Brand Group closed on Thursday at $39.11.