PVH Corp. price target raised to $93 from $87 at Credit Suisse

Credit Suisse raised the firm’s price target on PVH Corp. to $93 from $87 and keeps an Outperform rating on the shares. The firm thought PVH presented balanced results with strong trends in Europe and some sources of optimism in N. America despite a very tough holiday. As expected after watching all PVH’s peers report, gross margin was predictably pressured due to promos in the U.S., Credit Suisse adds. But SG&A control was strong, and likely foreshadows solid support for PVH’s guidance for EPS at $10.00 in 2023.