Cowen Remains Bullish on PVH Corp. (PVH) After Traveling with Management

Cowen reiterated an Outperform rating and $130.00 price target on PVH Corp (NYSE: PVH) after traveling with management. Contrary to domestic trends, management remains very upbeat about trends internationally throughout Europe, Asia and Brazil. As it relates to next year, management sees $1.00 in EPS headwind from transactional pressure related to FX rates as it relates to European, Latam and Asian currencies.

Analyst John Kernan commented, "We are incrementally more cautious on U.S. retail conditions for apparel/accessories following our meetings with PVH management. That said, international strength for Calvin and Tommy Hilfiger should offset weakness in N. America. Acquisitions of international licensees remains a catalyst. We would be buyers of the stock (-15% since 9/4), shares trade 14x FY16E EPS with a 6% free cash flow yield."

For an analyst ratings summary and ratings history on PVH Corp click here. For more ratings news on PVH Corp click here.

Shares of PVH Corp closed at $100.05 yesterday.

You May Also Be Interested In

• First Cash Financial (FCFS) PT Lowered to $140 at TD Cowen
• City Holding (CHCO) PT Raised to $110 at Keefe, Bruyette & Woods
• Acrivon Therapeutics Inc (ACRV) PT Lowered to $22 at Jones Trading