Standpoint Research Starts G-III Apparel (GIII) at Buy

Standpoint Research initiates coverage on G-III Apparel (NASDAQ: GIII) with a Buy. PT $34.00.

Analyst, Ronnie Moas, said, "GIII is currently trading $20 below its 52-week high. We are looking to for the shares to recover half of that in the next 12-24 months, leaving us with 43% upside to our price target. GIII is currently trading at < 9X estimates for this year and < 8X estimates for next year. Our price target is 10X the $3.40 per share we expect GIII will earn looking out to 2013-2014. The current consensus of six analysts covering GIII is for EPS of $2.54 in 2011 and $3.17 in 2012."

For an analyst ratings summary and ratings history on G-III Apparel click here. For more ratings news on G-III Apparel click here.

Shares of G-III Apparel closed at $24.40 yesterday.

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