Oxford Industries initiated with a Hold at Truist

Truist initiated coverage of Oxford Industries (OXM) with a Hold rating and $56 price target The firm says Oxford’s opportunity to reaccelerate Tommy Bahama’s sales is the key debate for the stock. Macro volatility and pressure on the department store channel were key headwinds that drove downside in fiscal 2024, and these dynamics are unlikely to materially improve in the near- to medium-term given the macro uncertainty, the analyst tells investors in a research note. As such, Truist believes visibility into a potential Tommy Bahama’s recovery remains limited.