G-III Apparel price target raised to $34 from $32 at KeyBanc

KeyBanc raised the firm’s price target on G-III Apparel to $34 from $32 and keeps an Overweight rating on the shares. G-III posted an EPS beat with revenue in-line and raised FY24 bottom-line guidance, and announced a global license for men’s and women’s apparel with Converse, set to launch Fall 2025 and expected to grow to $200M in a “reasonable time,” the analyst tells investors in a research note. The firm is encouraged by the addition of the new Converse license and the opportunity within go-forward licensed and owned brands.