Barclays Downgrades G-III Apparel Group to Underweight, Lowers Price Target to $23
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Paul Kearney downgraded G-III Apparel Group (GIII) from Equal-Weight to Underweight and reduced the price target from $30 to $23, indicating a bearish outlook on the company's stock.
March 04, 2024 | 11:22 am
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Barclays downgraded G-III Apparel Group to Underweight from Equal-Weight and lowered the price target to $23 from $30.
The downgrade by Barclays, a significant financial institution, to Underweight from Equal-Weight, coupled with a reduction in the price target, suggests a bearish outlook on G-III Apparel's stock. This could lead to a negative short-term impact on the stock price as market sentiment adjusts to the new rating and price target.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100