Barclays lowered the firm’s price target on PVH Corp. (PVH) to $98 from $144 and keeps an Overweight rating on the shares. The firm reduced estimates on the announcement by China’s Ministry of Commerce, which placed PVH on the “Unreliable Entity List.” The situation remains fluid, with no actions announced, and can change over the coming weeks, the analyst tells investors in a research note. Barclays believes PVh’s valuation embeds the risk.
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