UPDATE: Barrington Research Initiates Coverage On Movado Group On Anticipated Growth Opportunities

In a report published Monday, Barrington Research analyst Kristine Koerber initiated coverage on Movado Group MOV with an Outperform rating and $49.00 price target. In the report, Barrington Research noted, “We are initiating coverage of Movado Group Inc. with an OUTPERFORM investment rating and $49 price target. Movado is a leading global wholesaler of brand name watches including its flagship brand, Movado, ESQ by Movado, Ebel, Concord, Coach, Tommy Hilfiger, Hugo Boss, Juicy Couture, Lacoste and Scuderia Ferrari. The company's brands compete across a wide range of price-points and promote the unique aspirational lifestyle approach of each brand. We believe the company's diverse portfolio of strong brands should continue to provide it with substantial growth opportunities.” Movado Group closed on Friday at $41.42.