Janney Capital Raised Price Target on PVH Corp. (PVH) Following Q1

Janney Capital reiterates a Buy rating on PVH Corp (NYSE: PVH), and raised the price target to $133.00 (from $126.00), following Q1. Analyst Eric Tracy believes that the profitability and strength coming from CK, along with the FCF optionality and discount valuation, creates a compelling risk/reward scenario.

Tracy commented, "We are buyers of PVH following the 1Q beat, with tenets to our constructive thesis predicated on: 1) profitability improvements in CK biz, 2) strength in CK and TH ex-fx int'l biz, 3) FCF optionality (established buyback augments potential strategic acquisitions of TH/CK licenses), and 4) discounted valuation. While fx/tourist spending headwinds remain NT, the underlying co currency biz is showing signs of an inflection point, with the post-fx story starting to take shape. Our FV goes to $133 (from $126)."

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 $112.09 yesterday.

You May Also Be Interested In

• Hindustan Unilever Ltd (HUVR:IN) PT Lowered to INR2,440 at HSBC
• ICICI Securities Starts Amagi Media Labs (AMAGI:IN) at Buy (1)
• Asana (ASAN) PT Raised to $10 at UBS, Neutral Rating Maintained on 'Full' Valuation