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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PVH:
- PVH Earnings: PVH Beats Q4 Estimates, Outlook Sends Stock Lower
- Options Volatility and Implied Earnings Moves Today, April 01, 2024
- Options Volatility and Implied Earnings Moves This Week, April 01 – April 05, 2024
- PVH Corp. to issue 2024 outlook below Street, says UBS
- PVH Earnings this Week: How Will it Perform?
