Deutsche Bank Upgrades Phillips-Van Heusen (PVH) to Buy; LT Drivers + Relative Visibility + Reasonable Valuation = Buy.

Deutsche Bank upgraded Phillips-Van Heusen (NYSE: PVH) from Hold to Buy with a new price target of $100.00.

Deutsche analyst says, "Upgrading PVH, as despite the risk that 1H12 consensus is too high given that 2012 will be a ‘back-half’ story, our recent client meetings suggest that these concerns take a back-seat to PVH’s mid-/long-term opportunities. Investor focus on companies with ‘relatively' safe exposure to Europe, EPS visibility, still-reasonable valuation, and further potential catalysts should drive incremental P/E expansion. New $100 PT based on 14.5x our 2014 EPS (Jan. '14), a warranted premium to the 11x-13x historical average, given PVH’s share & OM opportunities."

For an analyst ratings summary and ratings history on Phillips-Van Heusen click here. For more ratings news on Phillips-Van Heusen click here.

Shares of Phillips-Van Heusen closed at $89.53 yesterday.

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