UPDATE: Brean Murray Reiterates Buy Rating, Raises PT for True Religion Apparel

In a company update published earlier today, Brean Murray, Carret & Co. reiterated its Buy rating for True Religion Apparel, Inc. (NASDAQ: TRLG) and raised its price target from $32.00 to $37.00.

Brean Murray said in its report “In addition to handily beating expectations across the domestic arena, True Religion aggressively approved shareholder friendly uses of their cash hoard, approved an $0.80 annual dividend, as well as the long‐awaited, share repurchase program. We believe the company is making the right strides in order to enhance the brand image on a global basis and become more competitive within the wholesale and international markets whether it be adjusting prices or hiring new personnel to lead each division.”

True Religion Apparel, Inc. closed yesterday at $27.88.