Superior Group price target lowered to $17 from $19 at Barrington

Barrington analyst Kevin Steinke lowered the firm’s price target on Superior Group to $17 from $19 and keeps an Outperform rating on the shares following the "mixed" Q4 results. The analyst cites the company’s 2023 guidance and a "more conservative valuation assumption due to current economic uncertainty" for the target drop. While economic conditions are impacting near-term demand, Superior has displayed an ability to gain market share during previous economic downturns, and this this trend should continue in 2023, the analyst tells investors in a research note.