Iconix Brand downgraded to Neutral from Buy at Citigroup Citigroup downgraded Iconix Brand citing valuation and a lack of near-term catalysts following the Buffalo acquisition. The firm lowered its price target for shares to $25 from $28.
Iconix Brand CFO to resign to pursue another opportunity Iconix Brand Group disclosed in a regulatory filing last night that CFO Jeff Lupinacci notified the company of his intention to resign, with 60 days’ notice, to pursue another business opportunity. The company has determined to make such resignation effective March 30 and has commenced a search for Lupinacci’s replacement and anticipates filling the position in the near term. David Blumberg, the company’s current executive VP – Head of Strategic Development, will assume Lupinacci’s duties on an interim basis until an appropriate replacement has been identified, the company said.