Telsey Advisory lowered the firm’s price target on PVH Corp. to $140 from $155 and keeps an Outperform rating on the shares. The company reported “solid” Q4 results, driven by better topline and gross margin performance, the analyst tells investors. This strength, however, was overshadowed by “disappointing” FY24 guidance and revenue, the firm adds. While a slowing and promotional European market is a concern and the outlook was a surprise, the firm continues to see evidence of underlying brand health.
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