PVH Corp. price target lowered to $72 from $123 at Citi

Citi lowered the firm’s price target on PVH Corp. (PVH) to $72 from $123 and keeps a Neutral rating on the shares. The firm expects the company’s Q4 sales to be in-line with consensus, and earnings slightly above. However, the volatile macro environment and lack of visibility in China could lead PVH to guide sales and EBIT margin flat to down, the analyst tells investors in a research note. Citi says that although expectations are low, with the overhang of China likely to remain, investors may be hesitant to step into the stock.