UBS Maintains Neutral Rating for G-III Apparel Group: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
UBS has maintained its Neutral rating on G-III Apparel Group (NASDAQ:GIII) but lowered its price target from $36.00 to $34.00. G-III Apparel Group's shares are currently trading down 0.14% at $29.46. The new price target suggests a potential upside of 15.41%. G-III Apparel Group is a textile company with a portfolio that includes both licensed and proprietary brands such as DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger, and Karl Lagerfeld, with the majority of its revenue coming from Wholesale operations.
March 12, 2024 | 5:00 pm
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NEUTRAL IMPACT
UBS maintains a Neutral rating on G-III Apparel Group but lowers its price target from $36.00 to $34.00, indicating a potential upside of 15.41% from the current price.
The adjustment in price target by UBS reflects a cautious but not pessimistic outlook on G-III Apparel Group. Given the company's strong brand portfolio and the current trading price, the lowered target suggests a belief in potential growth, albeit at a moderated pace. The Neutral rating indicates that UBS does not see significant downside or upside risks in the near term, making the impact on the stock price likely neutral in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100