Shares of Tailored Brands Inc. shot up 11% toward a 2 1/2-year high in active afternoon trade Monday, after the parent of Men’s Wearhouse and Jos. A Bank suits retailers was upgraded at Jefferies, which expects a sustained path toward fundamental improvement now that legacy balance sheet issues are behind the company. Analyst Randal Konik raised his rating to buy, after being at hold since Nov. 6, 2015, and boosted his stock price target by 33% to $40. The stock is now on track to close at the highest level since Nov. 5, 2015. “We see the custom clothing [opportunity] as significant, while a Jos. A Bank recovery towards prior productivity levels is another source of upside potential,” Konik wrote in a note to clients. The stock has run up 60.5% year to date, while both the SPDR S&P Retail ETF and S&P 500 have gained 2.0%.
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