Barclays analyst Paul Kearney raised the firm’s price target on PVH Corp. to $131 from $116 and keeps an Underweight rating on the shares. The analyst remains confident in PVH into next year driven by margin expansion in North America, clean inventory levels, and normalization of wholesale purchasing. The stock’s valuation remains attractive despite increased visibility on the drivers into next year, the analyst tells investors in a research note.
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Read More on PVH:
- PVH Corp. falls 5% to $86.50 after Q3 results, updated FY24 guidance
- PVH Corp. cuts FY23 revenue growth view to up 1% from up 3%-4% prior view
- PVH Corp. raises FY23 EPS view to $10.45 from $10.35, consensus $10.35
- PVH Corp. sees Q4 EPS $3.45, consensus $3.51
- PVH Corp. says remains positioned for FY23 double-digit EBIT margin