UPDATE: Piper Jaffray Starts Vince Holding (VNCE) at Overweight

(Updated - April 29, 2014 7:34 AM EDT)

Piper Jaffray initiated coverage on Vince Holding (NYSE: VNCE) with an Overweight rating and a price target of $35.00.

Analyst Erinn E. Murph said, "We see Vince as an emerging lifestyle brand with top-of mind share in women’s apparel within the domestic market with existing growth opportunities in men’s and footwear in addition to emerging opportunities in children’s and handbags. Over the next few years, we see top-line growth in the 15%-20% range and net-income growth in the 20%-25% range. We are favorable of the growth drivers underway--all of which support higher operating margins over time including direct-to-consumer growth, international expansion and accessories launch. Long-term, we see at least a $1 billion sales opportunity and $3.50/share in EPS power. Our $35 PT is predicated on a 30x multiple on FY16 EPS of $1.17."

For an analyst ratings summary and ratings history on Vince Holding click here. For more ratings news on Vince Holding click here.

Shares of Vince Holding closed at $26.56 yesterday.

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