UBS raised the firm’s price target on PVH Corp. to $174 from $160 and keeps a Buy rating on the shares after its Q1 earnings beat and guidance raise. The company has the brand strength and balance sheet to drive earnings growth over the long term, the analyst tells investors in a research note. While PVH’s quality-of- sale initiatives led to negative sales growth in Q1, the headwind from these initiatives recedes from here at the same time that the company’s product and marketing efforts continue to work, UBS added.
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