BTIG initiated coverage of Oxford Industries with a Neutral rating and no price target. The analyst views Oxford’s portfolio of brands as “solid and healthy” that should keep the company somewhat better insulated from macro disruptions. However, Oxford saw sizable gains in revenue and margins post-COVID, and while a portion of this permanent, BTIG is now seeing some degree of normalization which, combined with macro headwinds, could put the company in negative growth territory in 2024, the analyst tells investors in a research note.
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