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UPDATE: Morgan Stanley Downgrades PVH Following Warnaco Acquisition

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In a report published Thursday, Morgan Stanley analyst Jay Sole downgraded the rating on PVH (NYSE: PVH) from Overweight to Equal-Weight.

In the report, Morgan Stanley noted, “We think a new key debate is how the weak sales, low traffic environment will affect PVH. 47% of its business is done in discount channels where pricing pressure is greatest. Plus, PVH lacks a strong online presence and the omni-channel capabilities others are using to offset weak traffic. Thus, we expect PVH is relatively more affected by the emerging environment than peers are. We now forecast margins flat or falling in 69% of PVH's business. Even in better channels, such as Macy's, we think PVH will feel price pressures.”

PVH closed on Wednesday at $122.04.

Latest Ratings for PVH

Nov 2015Brean CapitalMaintainsBuy
Nov 2015Piper JaffrayMaintainsOverweight
Oct 2015Brean CapitalInitiates Coverage onBuy

View More Analyst Ratings for PVH
View the Latest Analyst Ratings

Posted-In: Jay Sole Morgan StanleyAnalyst Color Downgrades Analyst Ratings


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