Movado: Improving Margins, Strengthening Brand Momentum, and Attractive Valuation Support Buy Rating

Movado Group (MOV) has received a new Buy rating, initiated by Northland Securities analyst, Owen Rickert.

Owen Rickert has given his Buy rating due to a combination of factors tied to Movado’s improving fundamentals and attractive valuation. He expects the company’s operating margins to rise steadily through fiscal 2028 as marketing costs normalize and gross margin initiatives take hold, reversing the impact of recent elevated brand and store investments. Recent results from Movado’s own stores, which have posted consecutive quarters of double‑digit revenue growth, support his view that the increased marketing spend is gaining traction with consumers and strengthening the brand’s positioning.

Rickert also highlights Movado’s experienced management team, diversified portfolio of owned and licensed brands, and growing appeal among younger customers as key pillars supporting long-term growth. His forward estimates call for gradually rising revenue and EBITDA through FY26–FY28, and he values the stock using a 10x multiple on his FY28 EBIT forecast, arriving at a $30 price target. Given this upside relative to the current share price, combined with a disciplined capital return strategy and a resilient, recession-tested business model, he believes the risk/reward profile justifies an Outperform/Buy recommendation.