G-III Apparel price target raised to $32 from $26 at KeyBanc

KeyBanc raised the firm’s price target on G-III Apparel to $32 from $26 and keeps an Overweight rating on the shares. The firm notes that the company posted mixed results in Q3, with top line softer than expected. Despite the softness on the top line, KeyBanc remains confident in the long-term opportunity set within owned brands, with G-III adding Nautica, Halston, and the newly repositioned Donna Karan brands as power brands, as well as additional licensing opportunities.