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Fly News Breaks for June 22, 2018
GIII
Jun 22, 2018 | 07:46 EDT
As reported earlier, Needham analyst Rick Patel initialed G-III Apparel with a Buy rating and a price target of $53. The analyst is confident in the company's potential for significant EPS growth through scaling underpenetrated brands, reducing retail segment losses, and paying down debt with its free cash flows. Patel also expects G-III's Calvin Klein brand to grow low-single-digits over the long term, while its Tommy and Karl brands "appear to be in the early innings of growth".
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