UBS maintained a Buy rating on PVH Corp (NYSE: PVH), and cut the price target to $125.00 (from $135.00), following slow industry trends. PVH discuss weather and tourism issues that materialized as major 3Q drags for softlines peers. However, conversations with PVH suggested that it still has several cost levers to hit its 3Q guidance for $2.45-2.50.

Analyst Michael Binetti commented, "PVH was early to discuss weather/tourism issues that materialized as major 3Q drags for softlines peers. That said, our conversations w/PVH suggest that it still has several cost levers to hit 3Q guidance for $2.45-2.50 (and we think $6.90-7.00 remains achievable for '15). We are, however, lowering our 3QE EPS by $0.02 to $2.49 (Street: $2.47) due to FX & slightly slower 3Q industry trends—and lowering 4QE by $0.02 to $1.60 (Street: $1.60) reflecting our view for sluggish d-store sales, our view that retailers will seek high markdowns, & potential for sluggish NT Europe sales after recent attacks."

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Shares of PVH Corp closed at $91.29 yesterday.