PVH Corp (PVH) Could Trade Up Even If Guidance Misses - BofA
- Wall Street falls with Amazon; S&P 500 posts sixth straight month of gains
- Amazon (AMZN) Plunges After Missing Sales and Guidance Expectations, Analysts Slash PTs to Reflect Weaker Guidance
- Pinterest (PINS) Tops Profit and Sales Views, But Shares Plunges Over 20% on a Big Monthly User Miss to Prompt Two Downgrades
- 'I'm CEO.' New Book Outlines Merger Conversations Between Elon Musk and Tim Cook
- Bullard: Fed should taper this fall, go "fairly rapidly" to end early 2022
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
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".
Shares of PVH Corp closed at $108.69 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IPO for Cataract Lens Company RxSight (RXST) Opens 9% Higher
- ServiceNow (NOW) Receives Multiple Price Target Hikes on a Strong Beat-and-Raise
- AfterNext HealthTech Acquisition Corp.(AFTR.U) Announces 25M Unit IPO at $10/unit
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesBofA/Merrill Lynch
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!