UPDATE: Citigroup Upgrades Movado Group to Buy on Growth and Margin Expansion Outlook
Posted on January 18, 2013 at 08:12 AM EST
Citigroup upgraded Movado Group Inc. (NYSE: 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