Morgan Stanley raised the firm’s price target on PVH Corp. (PVH) to $70 from $64 and keeps an Equal Weight rating on the shares. PVH posted a “sizable” Q2 EPS beat on forex-related revenue and gross margin upside, but a fiscal year guidance reiteration “made for a muted stock reaction,” the analyst tells investors. While guidance “screens more achievable,” the firm remains skeptical on PVH+ plan execution and the company’s ability to drive fundamental improvement, the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PVH:
- PVH Corp. price target raised to $88 from $80 at Wells Fargo
- PVH Corp. price target raised to $148 from $146 at UBS
- PVH Corp Exceeds Q2 Revenue Expectations, Reaffirms Outlook
- PVH Corp. price target raised to $101 from $83 at Barclays
- PVH Stock Undervalued Despite Strong Q2 Performance: Buy Rating Justified