G-III Apparel price target lowered to $23 from $24 at Wells Fargo

Wells Fargo lowered the firm’s price target on G-III Apparel (GIII) to $23 from $24 and keeps an Underweight rating on the shares. G-III faced a “choppy” backdrop in Q4, driving a revenue miss, and guidance also fell short, and while initial reads point to ramping growth of owned and newly licensed brands, G-III faces a difficult road to fully offset the loss of PVH (PVH) licenses, the analyst tells investors in a research note.