Morgan Stanley raised the firm’s price target on PVH Corp. to $120 from $110 and keeps an Equal Weight rating on the shares. PVH posted a headline beat and guidance raise, but both were mostly driven by one-time and below-the-line benefits, the analyst tells investors in a post-earnings note. The “muted reaction” to the report suggests this result “did little to sway market conviction either way” in PVH+ Plan execution and long-term target achievability, the analyst added.
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