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Fly News Breaks for January 29, 2020
OXM
Jan 29, 2020 | 06:53 EDT
Needham analyst Rick Patel upgraded Oxford Industries to Buy from Hold with a $79 price target. The analyst says the company's narrowed expectations for FY19 are achievable and he expects its positive momentum to continue this year. While Oxford Industries' Q3 results were solid, the management pointed to a deceleration in Q4-to-date due to a shorter holiday shopping window, Patel tells investors. The analyst notes however that the industry results were encouraging and indicative of better demand, boosting his confidence about the quarter.
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