In a report published Monday, Morgan Stanley analyst Jay Sole reiterated an Equal-Weight rating on PVH Corp. PVH, but lowered the price target from $120.00 to $115.00.
In the report, Morgan Stanley noted, "PVH reset EPS expectations. It also indicated increasing brand and systems investment commitment. We see beat & raise, plus P/E expansion potential. Our price target is 11% above the last close. The stock is now one of our two favorite EWs. If three factors change, we could revisit our rating."
PVH Corp. closed on Friday at $103.91.
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