G-III Apparel price target lowered to $30 from $40 at KeyBanc

KeyBanc lowered the firm’s price target on G-III Apparel (GIII) to $30 from $40 and keeps an Overweight rating on the shares. The firm notes G-III reported results at the high end of guidance and withdrew FY25 profitability guide. KeyBanc says strength within the core owned brands, along with upcoming licensing launches in the second half of the year, supports its view that G-III is well-positioned to meet full year revenue guidance. While it acknowledges that license roll-offs become more pronounced next year and may weigh on top-line, the firm expects tariff headwinds to subside and sees opportunity for earnings expansion driven by a stronger, higher margin go-forward business. With core fundamentals remaining intact, KeyBanc views the pullback as overdone.