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Fly News Breaks for December 2, 2016
GIII
Dec 2, 2016 | 07:25 EDT
Brean Capital analyst Eric Tracy noted G-III Apparel reported Q3 results that missed estimates. The company also guided lower, driving the shares down more than 10%. Tracy does not believe the guidance has totally de-risked the stock but sees its risk/reward skewed to the upside by as much as 60%. Tracy lowered his price target to $39 from $41 on G-III Apparel shares, but reiterated his Buy rating.
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