BMO Capital analyst Simeon Siegel raised the firm’s price target on PVH Corp. to $119 from $110 but keeps a Market Perform rating on the shares. The company’s stronger than expected gross margin flowed through to an earnings beat, while the management’s outlook for Q2 sales was “nicely ahead” of consensus, the analyst tells investors in a research note. PVH deserves much credit for what it achieved with Calvin Klein and Tommy Hilfiger, growing them into two of the largest brands in history, though its CK segment may have reached a revenue peak and could benefit from a greater focus on profits versus sales, BMO added.
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