Volcom "buy," target price raised

04/28/06 - D.A. Davidson & Co.

NEW YORK, April 28 (newratings.com) - Analysts at DA Davidson maintain their "buy" rating on Volcom Inc (VLCM), while raising their estimates for the company. The 12-18 month target price has been raised from $44 to $46.

In a research note published this morning, the analysts mention that the company has reported its F1Q06 pro forma EPS and sales ahead of the estimates. Volcom has raised its EPS guidance for FY06 from $1.10-$1.12 to $1.12-$1.14, including expenses associated with current growth initiatives and potential product extensions. The EPS estimates for FY06 and FY07 have been raised from $1.12 to $1.14 and from $1.44 to $1.46, respectively.