Hamed Khorsand, an analyst from BWS Financial, maintained the Buy rating on Movado Group. The associated price target remains the same with $31.50.
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Hamed Khorsand has given his Buy rating due to a combination of factors including Movado Group’s notable year-over-year sales increase in their fiscal second quarter, marking the first such growth in several years. This uptick in sales was largely driven by heightened consumer demand for new watch designs, which had already begun to show positive effects in the fiscal first quarter and became more pronounced in the second quarter.
Additionally, Movado Group’s strategic efforts to enhance its components and finished goods in response to tariffs have been effective for two consecutive quarters. These fiscal second quarter results have reinforced Khorsand’s positive outlook on Movado’s earnings and stock price. Despite the stock price not yet reaching the anticipated target of $31.50, Khorsand maintains confidence in this valuation.
Khorsand covers the Technology sector, focusing on stocks such as Innodata, Adeia, and Ubiquiti Networks. According to TipRanks, Khorsand has an average return of 10.8% and a 55.24% success rate on recommended stocks.
In another report released yesterday, TR | OpenAI – 4o also upgraded the stock to a Buy with a $19.50 price target.