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UPDATE: Bank Of America Downgrades PVH Corp

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Analysts at Bank of America downgraded shares of PVH Corp (NYSE: PVH) from Neutral to Underperform with a $125 price target.

Analysts point out three concerns moving forward:

  • Unfavorable risk/reward. Robert Ohmes stated,”PVH is now trading at over 15x our below consensus F16 EPS estimate of $8.50 and above our $125 PO implying an unfavorable risk/reward, in our view.”
  • Fiscal second half 2015 growth dependent on Calvin Klein & Heritage brands improvement. A disappointing customer response to these product lines this fall could further deteriorate future sales guidance.
  • Risks outweigh rewards during apparel uncertainty. Ohmes stated,”PVH has a history of relatively Underperforming / Market-performing the S&P 500 during disinflationary/deflationary apparel environments and when apparel disinflation is bordering on deflation.”

Shares of PVH Corp were trading at $127.85, down 0.4 percent

Latest Ratings for PVH

DateFirmActionFromTo
Jul 2019DowngradesNeutralSell
Jun 2019ReiteratesBuy
May 2019MaintainsNeutral

View More Analyst Ratings for PVH
View the Latest Analyst Ratings

Posted-In: Bank of America Robert OhmesAnalyst Color Downgrades Price Target Analyst Ratings

 

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