UPDATE: BofA/Merrill Lynch Upgrades G-III Apparel (GIII) to Buy

November 13, 2019 6:03 AM EST
Get Alerts GIII Hot Sheet
Price: $29.76 -0.33%

Rating Summary:
    10 Buy, 9 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 14 | New: 23
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(Updated - November 13, 2019 8:09 AM EST)

(updated to add analyst comments)

BofA/Merrill Lynch analyst Heather Balsky upgraded G-III Apparel (NASDAQ: GIII) from Neutral to Buy with a price target of $36 (from $26), citing a clear catalyst path to earnings and multiple expansion.

  • see a catalyst path to multiple expansion, including a likely accelerated wind-down of its unprofitable outlet business and de-risking with regards to tariffs.

  • poised for outsized wholesale growth versus peers from distribution and category expansion at its power women’s brands (Tommy Hilfiger, Calvin Klein, DKNY).

  • raising F2019/20E EPS by 6/9c to $3.22/3.10 on higher sales and margins;

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 $28.50 yesterday.

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