G-III Apparel price target lowered to $16 from $22 at Piper Sandler

Piper Sandler analyst Edward Yruma lowered the firm’s price target on G-III Apparel to $16 from $22 and keeps a Neutral rating on the shares after hosting investor meetings with management. G-III continues to see progress within its owned portfolio, but the loss of the PVH licenses "will be a clear medium-term headwind to EBITDA," Yruma tells investors in a research note. The analyst sees "material uncertainty surrounding its growth profile."