Loading...
Loading...
Citigroup upgraded Movado Group Inc.
MOV from Neutral to Buy and raised the price target from $38.00 to $40.00.
Citigroup noted, "Global accessories represent the future of our sector, in our view. We're upgrading MOV on revenue growth in 2013 yielding substantial margin expansion, compelling watch trends at key peers, & upside to valuation. We raise the price target to $40 on 16x 2014 (from $38) which implies +19% ETR; we raise 2013 EPS to $1.90 from $1.85 & 2014 to $2.50 on growth from higher base on higher sales & fixed cost leverage."
Movado Group closed at $33.76 on Thursday.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
We simplify the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in