Columbia Sportswear price target lowered to $59 from $62 at UBS

UBS lowered the firm’s price target on Columbia Sportswear to $59 from $62 and keeps a Sell rating on the shares. Columbia has a portfolio of solid outdoor brands and can deliver decent long-term sales growth, but should face incremental top-line challenges in FY24, and these, along with margin pressures should cause its EPS to weaken, the analyst tells investors in a research note.