G-III Apparel price target raised to $30 from $24 at Telsey Advisory

Telsey Advisory raised the firm’s price target on G-III Apparel to $30 from $24 and keeps a Market Perform rating on the shares. G-III reported “impressive” quarterly results, benefiting from gross margin expansion and cost control on a weaker topline, and Telsey was encouraged by the raised bottom line guide, which is evidence that the company’s operating expense management and inventory discipline are working, the analyst tells investors in a research note. At the same time, the firm notes that macro pressures continue to weigh on shoppers and G-III’s wholesale exposure remains a concern in the current operating environment.