Needham keeps a Buy rating and $100 price target on PVH while noting that the insider purchase of stock by its CEO represents an “encouraging show of confidence” by the management that’s demonstrating their confidence in the current state of the business. While the macro environment is undoubtedly challenging, shares have been overly punished, particularly with accretion from cost efficiencies and the G-III licenses hitting the P&L the next 3 years, the analyst tells investors in a research note.
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