Standpoint Research Downgrades Perry Ellis (PERY) to Hold; Locking In Gains

Standpoint Research downgraded Perry Ellis (NASDAQ: PERY) from Buy to Hold with a price target of $21.00.

Ronnie Moas, said, "With the VIX near a five-year low, the S&P-500 near 1400, oil prices > $105, and another spike possibly on the way -- if the Israeli attack on Iran I have been waiting two years for occurs – we want to reduce our overweight in discretionary names and lock/protect this gain. PERY shares are still attractive at 9X and our price target remains $21 for next year. It is the near-term condition that is the concern here."

For an analyst ratings summary and ratings history on Perry Ellis click here. For more ratings news on Perry Ellis click here.

Shares of Perry Ellis closed at $17.70 yesterday.

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