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PVH Corp. initiated with a Buy at Needham

Needham initiated coverage of PVH Corp. (PVH) with a Buy rating and $115 price target The firm believes PVH is a “mispriced asset, with underappreciated” earnings drivers over the next few years. In fiscal 2026 and 2027, there will be over $1.00 in earnings per share accretion from taking the G-III licenses in-house, which is not currently reflected in Street estimates, the analyst tells investors in a research note. Additionally, PVH’s cost-efficiency focus has been masked by deleverage on falling sales, but with revenues likely to resume growth this year, the company may see expense leverage in the coming years, contends Needham.

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