PVH Corp (PVH) Bullish Stance Reiterated at Nomura on Strong Q2

Nomura Securities analyst Robert Drbul reiterated a Buy rating and $180 price target on PVH Corp (NYSE: PVH) following better-than-expected Q2 results.

Drbul commented, "PVH reported adjusted 2Q14 earnings of $1.51, ahead of our estimate and consensus. Consolidated revenues increased to $1.98 billion, a 1% increase over last year’s second quarter, or a 4% increase excluding $62 million of revenue from the recently sold Bass business. Calvin Klein revenues increased 1% to $675 million. Tommy Hilfiger revenues increased 9% to $870 million. We eagerly and confidently await the CK jeanswear rollout in September and October, and believe early indications have been largely positive. Given the adverse expected impact from FX translations and continued softness in the Heritage segment, we are revising our 2H14 sales expectations."

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 $117.13 yesterday.

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