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.
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Read More on PVH:
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