Movado price target lowered to $32 from $38 at TD Cowen

TD Cowen analyst Oliver Chen lowered the firm’s price target on Movado to $32 from $38 and keeps a Market Perform rating on the shares. The analyst said its refocus on access prices is prudent as the consumer cautions and he noted the company declared a special $1.00 dividend and a regular 35c div for a full year yield of 8.5%.