UPDATE: Credit Suisse Reinstates Coverage on Tumi Holdings with Outperform Rating, Raises PT on Continued Good Execution

In a report published Wednesday, Credit Suisse analyst Christian Buss reinstated coverage on Tumi Holdings

with an Outperform rating, and slightly raised the price target from $25.00 to $26.00. In the report, Buss noted, “Tumi continues to execute well, with 4Q results supporting the view that underlying demand trends across geographies and product lines remains robust. Unexpected capacity constraints on fulfillment operations did hold back 4Q earnings upside, although the impact looks to be one-time in nature. We believe revenue guidance for 2013 is conservative and see potential for better-than-expected flow-through to the bottom line, positioning the company and shares well for 2013. We reinstate our Outperform rating and introduce a $26 TP (prev $25).” Tumi Holdings closed on Tuesday at $21.28.