Barclays lowered the firm’s price target on PVH Corp. (PVH) to $87 from $103 and keeps an Overweight rating on the shares. The firm says that while it views the U.S. consumer as resilient, it is cautious on the near term on specialty retail names, believing market volatility and uncertain policy are “rattling” consumer and business confidence. Apparel is one of the most affected sectors from changes in tariff policy, as the majority of the clothes we wear in the U.S. are made somewhere else, and there is no easy alternative to that without consistency in long-term policy, the analyst tells investors in a research note. Barclays reduced estimates across the sector.
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Read More on PVH:
- PVH Corp. price target lowered to $92 from $99 at Goldman Sachs
- PVH Corp. price target lowered to $87 from $91 at JPMorgan
- PVH Corp. price target lowered to $68 from $83 at Citi
- Sector Spotlight: Tariffs spark consumer goods selloff and cost fears
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