G-III Apparel price target raised to $30 from $25 at Wells Fargo

Wells Fargo raised the firm’s price target on G-III Apparel to $30 from $25 and keeps an Equal Weight rating on the shares. While G-III’s print was “encouraging,” revenues missed driven by a choppy backdrop which Wells expects to continue. Looking ahead, G-III faces a difficult road to fully offset the loss of PVH licenses, the firm notes.