BWS Financial initiates Buy rating on Movado stock, highlighting brand investment strategy By Investing.com
On Thursday, BWS Financial initiated coverage on Movado Group Inc . (NYSE:) with a Buy rating and set a price target of $31.50. Currently trading at $20.24, Movado shows promising potential according to InvestingPro data, which indicates the stock is undervalued. The firm’s analysts pointed to the company’s strategic use of its cash reserves to boost marketing efforts as a key driver for future sales growth. Movado, known for its watches, has expanded its portfolio through licensing agreements to include watches and jewelry for other brands.
The luxury watchmaker has opted to invest heavily in brand promotion for the fiscal year of 2025, which ends in January. This increase in marketing spend has led to a temporary dip in earnings,…
