G-III Apparel (GIII) PT Lowered at KeyBanc Following Profitability Guidance Withdrawal

KeyBanc analyst Ashley Owens lowered the price target on G-III Apparel (NASDAQ: GIII) to $30.00 (from $40.00) while maintaining an Overweight rating.

The analyst commented: "Solid Results; FY Profitability Guidance Withdrawn; GIII reported results at the high end of guidance and withdrew FY25 profitability guide; as a result, our PT moves down to $30, but we remain constructive on the underlying business. Strength within the core owned brands (KL, DK, DKNY all growing +DD) along with upcoming licensing launches in 2H support our view that GIII is well-positioned to meet FY revenue guidance. While we acknowledge that license roll-offs become more pronounced next year and may weigh on top-line, we expect tariff headwinds to subside and see oppty for earnings expansion driven by a stronger, higher-margin go-forward business. With core fundamentals remaining intact, we view the pullback as overdone."

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