Market Overview

UPDATE: Deutsche Bank Raises PT on PVH Corp. Ahead of Expected In-Line 2Q Results

Share:
Related PVH
Credit Suisse Adjusts Its Top Picks List In A Record-Breaking Market
Einhorn's Positions In HPE, Micron, Tempur Sealy Create Curious Volatility

In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on PVH Corp. (NYSE: PVH), and raised the price target from $125.00 to $145.00.

In the report, Deutsche Bank noted, “Expect an in-line 2Q, modest raise, and continued long-term growth prospects. With PVH stock up ~17% since 1Q results, investors remain optimistic about prospects for the year (but probably more so for CY14+). For 2Q, we're at $1.37 in EPS (in-line with FactSet consensus) and +$0.02 to plan. For F14, we're conservatively raising EPS to $7.05 vs. $7.00 plan and $7.15 consensus. Despite a recent slowdown in U.S. apparel industry trends, the market should continue to like the PVH story given: (1) potential synergies from the Warnaco integration, (2) out-year payoffs to this year's investments, and (3) a high-quality play on global growth (particularly if Europe is bottoming). Bump PT to $145 on ~18x our F15E EPS. Risks: Warnaco integration, inability to raise plan.”

PVH Corp. closed on Friday at $129.97.

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: Deutsche Bank Greg PooleAnalyst Color Price Target Analyst Ratings

 

Related Articles (PVH)

View Comments and Join the Discussion!

Partner Center