Oxford Industries price target lowered to $47 from $56 at Truist

Truist lowered the firm’s price target on Oxford Industries (OXM) to $47 from $56 and keeps a Hold rating on the shares. Shares were down high-single-digits afterhours as the company materially lowered its FY guidance to reflect an incremental $40M of tariff costs and a softer topline outlook, the analyst tells investors in a research note. The management is working fast to rapidly reduce China sourcing, but headwinds from tariffs are meaningful this year, the firm added.