PVH Corp (PVH) Could Trade Up Even If Guidance Misses - BofA

March 22, 2019 9:17 AM EDT
Get Alerts PVH Hot Sheet
Price: $104.62 +1.13%

Rating Summary:
    18 Buy, 10 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 8
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BofA/Merrill Lynch analyst Heather Balsky reiterated a Buy rating and $130.00 price target on PVH Corp (NYSE: PVH) ahead of the company reporting 4Q EPS on March 27th after the close. PVH already raised its 4Q outlook based on Holiday results but the analyst thinks the company may guide below its low-teens long-term EPS growth target. While the guidance would be below consensus, the analyst believes a high-single-digit 2019 EPS guide will be well received by an investor base with low expectations. The analyst is modeling 2019 EPS of $10.39.

The analyst stated "We are focused on the 2019 outlook and an update on the Calvin Klein (CK) turnaround plan." "CK Chief Creative Officer Raf Simons left in late December, and CK announced a brand restructuring in early January. We’re looking for a breakdown of the $120mn in planned restructuring charges at CK. The media has reported that CK is exiting its collection business and is licensing its US CK denim business to G-III, but neither have been verified".

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 $108.69 yesterday.

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