Benchmark Downgrades Iconix Brand (ICON) to Hold on Valuation

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Benchmark downgraded Iconix Brand (NASDAQ: ICON) from Buy to Hold with a price target of $20.00.

"Given the rally in the share price from its spring low of approximately $14.53 to yesterday's close of $19.21 and its 18% year to date increase, despite flattish year over year earnings, we believe the shares are close to fully valued."

For an analyst ratings summary and ratings history on Iconix Brand click here. For more ratings news on Iconix Brand click here.

Shares of Iconix Brand closed at $19.21 yesterday, with a 52 week range of $14.27-$21.95.

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