Goldman Sachs analyst Brooke Roach upgraded PVH Corp. to Buy from Neutral with a price target of $126, up from $99. The analyst believes PVH’s sequentially improving execution against strategic initiatives set out by the company’s PVH+ plan will support a “significant improvement in profitability” into 2024. The firm sees a clear path for PVH to recapture several hundred basis points of margin from moderating product costs, freight pressures, and currency costs.
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