Piper Jaffray Remains Bullish after Meeting with PVH Corp. (PVH) Management

Piper Jaffray reiterates an Overweight rating and $130.00 price target on PVH Corp (NYSE: PVH) following meetings with management. Analyst Erinn Murphy is confident in the company achieving estimates, and believes PVH can achieve $10/sh in EPS over three years.

Murphy commented, "We are reiterating our OW and $130 PT following meetings hosted with Dana Perlman the company's Treasurer, SVP Business Development & IR, in Frankfurt and Copenhagen last week. Management's tone was encouraging not only as it related to current business trends but also noted the brand investments made over the last two years were paying off with particular traction in CK. We are confident in the company achieving this year's estimates and we favor PVH as a European recovery play (27% of sales). We believe the company can look to achieve $10/sh in EPS over the next three years. Separately, money flow could start to come back to the apparel & luxury space in 2H tied to the re-balancing of select value indices that put a greater emphasis on the constituent weightings within apparel. PVH is our top large cap recovery name into 2H."

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 $115.50 yesterday.

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