JPMorgan downgraded PVH Corp. (PVH) to Neutral from Overweight with a price target of $113, down from $149. The firm also removed the shares from its Analyst Focus List. The analyst reduced PVH’s organic revenue growth estimates for fiscal 2025 below consensus and sees a second-half weighted revenue cadence. JPMorgan expects gross margin headwinds into fiscal 2025 for PVH on its licensing transition.
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