G-III Apparel price target lowered to $30 from $38 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on G-III Apparel (GIII) to $30 from $38 and keeps a Market Perform rating on the shares. The company had a “nice” finish to the year, with sales, gross margin, and expenses coming in better than expected, the analyst tells investors. The firm, however, continues to see pressure from the challenging macro environment and choppy wholesale channel.