BUZZ-Oxford Industries Inc tumbles on weak FY forecast
Reuters · 09/12 16:18
Share
Listen to the news
Updates
** Clothing company Oxford Industries' OXM.N shares fall as much as 10.4% to more than 3-1/2-year low of $74.95
** Company forecast FY24 revenue between $1.51 bln and $1.54 bln vs est $1.61 bln - LSEG
** Citi cuts PT on company's shares to $65 from $92
** "Co faces a tough macro backdrop and difficult comparisons, and there is limited visibility into when sales results will improve" - brokerage
** Citi retains "sell" rating
** Brokerage Telsey Advisory Group also trims PT to $86 from $110
** "We remain cautious -term given the uncertain macro environment and the shift in consumer spending towards value" - Telsey
** As of Wednesday's close, stock down ~16 YTD
(Reporting by Neil J Kanatt in Bengaluru)
Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
What's Trending
No content on the Webull website shall be considered a recommendation or solicitation for the purchase or sale of securities, options or other investment products. All information and data on the website is for reference only and no historical data shall be considered as the basis for judging future trends.
Copyright © 2024 Webull. All Rights Reserved