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UPDATE: Bank of America Raises PO to $98 on Phillips-Van Heusen

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Bank of America reiterated its Neutral rating on Phillips-Van Heusen (NYSE: PVH) but raised its price objective from $95 to $98.

Bank of America commented, "Following a –(300)bps decline in Heritage wholesale EBIT in F11 given product cost pressure and a promotional Holiday, Heritage should benefit from a significant margin recovery in F2H12 as product costs alleviate (est. down -5-8%). Improved Heritage rev. trends have been supported by strong initial sales at the ~680 IZOD shop-in-shops at JCP and strength in men's sportswear and dress furnishings."

Phillips-Van Heusen closed at $92.92 on Tuesday.

Latest Ratings for PVH

DateFirmActionFromTo
Oct 2017Deutsche BankInitiates Coverage OnHold
Sep 2017BarclaysInitiates Coverage OnOverweight
Sep 2017BernsteinInitiates Coverage OnMarket Perform

View More Analyst Ratings for PVH
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Price Target Intraday Update Analyst Ratings

 

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