NEW YORK, NY / ACCESSWIRE / April 17, 2019 / D.A. Davidson & Co. Analyst Michael M.Y. Kawamoto initiated coverage of Jerash Holdings (US), Inc. (NASDAQ: JRSH), with a BUY rating and price target of $9.00. Jerash is a manufacturer utilized by many well-known brands and retailers, such as The North Face, Columbia, VF Corporation, Philip-Van Heusen, Walmart, Costco, Land's End, and others. Its production facilities are made up of three factory units and two warehouses with total annual capacity of approximately 6.5 million pieces. The company has announced a more than 1.5 million piece capacity expansion program beginning in April 2019. Jerash's Jordanian manufacturing facilities are located in a United States Qualifying Industrial Zone (QIZ), which provides for duty-free movement of industrial goods between Jordan and the US provided. Additionally, Jerash is engaged in a number of socially responsible initiatives designed to ensure safe, rewarding employment practices of global textile workers and providing employment to Syrian refugees housed in United Nations camps in Jordan. Additional information is available at http://www.jerashholdings.com.
Matt Kreps, Darrow Associates Investor Relations
SOURCE: Jerash Holdings (US), Inc.