PVH Corp. price target raised to $156 from $135 at BofA

BofA raised the firm’s price target on PVH Corp. to $156 from $135 and keeps a Buy rating on the shares. The firm forecasts Q4 EPS of $3.50, which it notes is relatively in line with consensus, and FY24 EPS of $12.40, which is above consensus at $12.11. The firm, which thinks visibility on positive near-term margin drivers will outweigh any potential choppiness in wholesale, cites a rerating in market multiples for its higher price target ahead of the company’s Q4 report.