PVH Corp. price target raised to $165 from $150 at TD Cowen

TD Cowen raised the firm’s price target on PVH Corp. to $165 from $150 and keeps an Outperform rating on the shares. The analyst estimates PVH generates 50% to 60% of its EBIT in Europe with a catalyst of improving profitability globally. The company “fits the narrative building across the sector” for higher gross margin, improved inventory management, higher margins and accelerating earnings growth, the analyst tells investors in a research note. TD believes consensus estimates are underestimating PVH’s ability to elevate the Calvin Klein and Tommy Hilfiger brands, drive faster inventory turns, and higher margins. It names PVH Corp. a Europe best idea.