PVH Corp. price target raised by $11 at Telsey Advisory, here’s why

Telsey Advisory raised the firm’s price target on PVH Corp. to $122 from $111 and keeps an Outperform rating on the shares following an investor meeting with management. The company reported Q3 results less than two weeks ago, reporting a Q3 EPS beat and raise, but a sales miss and moderation to the topline outlook for the year, the analyst tells investors. The firm maintains an Outperform rating on the stock because PVH is on track to deliver double-digit operating margin for the year, inventory efficiency is improving, and share repurchases help support the valuation.