Analyst Hamed Khorsand of BWS Financial maintained a Buy rating on Movado Group, retaining the price target of $31.50.
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Hamed Khorsand’s rating is based on several key factors that highlight Movado Group’s potential for growth. The company has demonstrated resilience in a challenging consumer market, with notable sales growth in its latest fiscal quarter. This growth is attributed to successful new designs and an innovative advertising strategy launched the previous year.
Additionally, despite a slight miss in earnings expectations due to performance-based compensation, Movado Group is projected to continue growing its earnings in the coming fiscal years. This anticipated growth supports the stock’s potential to reach the target price of $31.50, reinforcing Khorsand’s Buy rating.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $21.50 price target.