Guess price target lowered to $18 from $21 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Guess (GES) to $18 from $21 and keeps a Market Perform rating on the shares. The company recorded disappointing sales in Q3, offsetting a slightly better gross margin and expense control, the analyst tells investors. Despite continued investments in marketing to strengthen its global brand awareness, retail traffic in the Americas and Asia remained under pressure, the firm adds.