PVH Corp. upgraded to Outperform from Market Perform at TD Cowen

TD Cowen analyst John Kernan upgraded PVH Corp. to Outperform from Market Perform with a price target of $150, up from $86. The analyst says the consensus is underestimating PVH’s ability to elevate the Calvin Klein and Tommy businesses, faster inventory turns, higher margins and an emerging capital allocation narrative, which can significantly improve its capital structure. This supports mid-teens earnings growth as the company’s inventory and supply chain management creates upside, the analyst tells investors in a research note.