Wells Fargo analyst Ike Boruchow lowered the firm’s price target on PVH Corp. to $138 from $150 and keeps an Overweight rating on the shares. The firm says PVH’s FY24 outlook was a disappointment – as the backdrop in Europe has continued to weigh on revenues. While the AUC/cost drivers do appear in place, the top-line headwinds are outweighing the margins, Wells adds.
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