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True Religion: It Could be Déjà vu All Over Again
While the Dow and NASDAQ have both logged more than a 3% decline over the past two trading sessions, True Religion Apparel Inc. (TRLG) has tacked on 3%, closing today at $26.76. On Thursday, the jeans maker announced that the company’s President, Michael Buckley and CFO will be presenting at the 8th Annual Oppenheimer Consumer Growth Conference mid-day Tuesday July 8. The retailer most recently presented at the Piper Jaffray Consumer Conference in early June. Not coincidentally, on June 16 - just a few days after the conference, a Brean Murray analyst raised estimates and the price target on the stock– a record third analyst price target boost in three months. It hit a 52-week high of $27.16 that day. Positive analyst coverage and commentary has been crucial for this small cap name which lacks visibility. Thus, the latest conference could be déjà vu all over again.
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