Guess price target lowered to $13 from $18 at Telsey Advisory

Telsey Advisory analyst Dana Telsey lowered the firm’s price target on Guess (GES) to $13 from $18 and keeps a Market Perform rating on the shares. Despite making significant investments in marketing to strengthen its global brand awareness, the company continued to see weaker retail traffic in the Americas and Asia, the analyst tells investors. Additionally, greater macro pressure on the consumer, softer retail traffic, elevated freight rates, and continued investments in marketing resulted in more cautious outlooks, the firm adds.