Standpoint Research Downgrades G-III Apparel (GIII) to Hold; Pulling Back After Recent Run

Standpoint Research downgraded G-III Apparel (NASDAQ: GIII) from Buy to Hold.

Analyst, Ronnie Moas, said, "GIII shares have once again closed in on our price target...up > 21% since our recommendation three months ago and up > 1600 bps versus the S&P. The shares remain attractive and are still trading below our $33 target for 2012 and $36 for 2013. That being said...given the recent run, in this name and in the market, we do not like the near term risk reward and can no longer leave our highest recommendation attached to this name."

For an analyst ratings summary and ratings history on G-III Apparel click here. For more ratings news on G-III Apparel click here.

Shares of G-III Apparel closed at $29.99 yesterday.

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