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Fly News Breaks for January 2, 2020
Jan 2, 2020 | 06:44 EDT
Wells Fargo analyst Matthew Gulmi upgraded G-III Apparel to Overweight from Equal Weight with a price target of $42, up from $27, as part of a broader research note on retailers and specialty softlines. While the analyst says the retail group had a "very challenging" 2019 due to a confluence of factors including tariff concerns and tough compares, looking to 2020, he has reasons to believe that fundamentals can stabilize or improve and sees an opportunity for some "reversion to the mean" over the next 6-12 months. The analyst says he sees the opportunity for investors to "play offense," especially in early 2020, by coming back to some of the beaten-down names.
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