posted
They make joe's jeans and other hot, trendy fashion items. Still a bargain at around $5.00, but I think it's going to move up in a hurry because it's such a hot market for trendy/high end jeans and other items.
Coverage initiated today with a buy and an initial price target of $7.50.
Briefing.com:
23-Mar-05 09:07 ET In Play Innovo Group, Inc. started with a Buy at Wedbush; tgt $7.50 (INNO) 5.07 : Wedbush initiates INNO with a Buy and $7.50 tgt. Firm's positive channel checks reveal increasing demand for Joe's Jeans, which they believe could lead to continued upward earnings revisions. They see increased product distribution along with greater product penetration in Joe's Jeans and indie, which could drive powerful top and bottom line growth. Also, firm believes there is upside potential to gross and operating margins, and a strong premium denim fashion cycle that is still in its early stages.
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