Volcom "buy"

08/02/06 - Wedbush Morgan Securities

NEW YORK, August 2 (newratings.com) - Analyst Jeff Mintz of Wedbush Morgan maintains his "buy" rating on Volcom Inc (VLCM). The 12-month target price is set to $31.

In a research note published yesterday, the analyst mentions that the decline in Volcom’s share price following the company’s recent earnings report appears overdone. Channel checks at Pacific Sunwear stores indicate the importance of the Volcom brand for the retailer, the analyst says. The implementation of Volcom’s European strategy appears to be on track and on schedule, and is expected to offer a substantial growth opportunity for 2008, Wedbush Morgan adds.