Cowen Reiterates Market Perform on Movado Group (MOV)
- Stocks dip as earnings pour in, consumer discretionary lags
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Cowen reiterated a Market Perform rating and $24.00 price target on Movado Group Inc. (NYSE: MOV) following the company's 2Q earnings report.
Analyst Oliver Chen commented, "MOV 2Q -4c EPS Miss vs. Street driven by softer sales, partly offset by better GM (+90bps) & lower SG&A. MOV prudently cuts FY guidance as US dept store channel & fashion watch category still under pressure. Reit. Market Perform w/ $24PT as we monitor for combo of product innovation pipeline, digital & enhanced marketing driving better 2H. Next catalyst: Cowen-hosted MOV CFO meeting on 9/7."
Shares of Movado Group Inc. closed at $22.80 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rosenblatt Upgrades NETGEAR (NTGR) to Buy
- Jefferies Cuts Price Target on Essendant (ESND) to $18 Following EPS Miss
- PAREXEL (PRXL) PT, Estimates Lowered at Evercore ISI
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesCowen & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!