Duluth Holdings price target lowered to $3.50 from $4 at Baird

Baird lowered the firm’s price target on Duluth Holdings (DLTH) to $3.50 from $4 and keeps a Neutral rating on the shares. The firm said Q3 revenue fell and adjusted EBIT missed which management attributed largely to external factors including a tougher environment and weather, and not larger brand issues which current gross margin levels may signal.