In a report published by Piper Jaffray, analyst Erinn E. Murphy reiterated a Neutral rating and $123 price target on PVH Corporation PVH.
Piper Jaffray reported that, “We are updating our thoughts on PVH into their earnings report, slated for 3/27. As
it relates to Q4, we would expect mgmt to best expectations modestly. That said, on
the heels of GES' Q4 report in which guidance came in well-below expectations, tied
in part due to a challenging European macro environment (which has softened QTD),
we believe it is prudent to take a more conservative approach to our ests. and as such
are trimming our EPS ests. for FY14 and beyond. That said, we would expect mgmt to
reiterate its $0.35/share accretion estimate for FY14. We believe the risk/reward on PVH
shares is balanced over the next 12 months. Our longer-term bias on PVH is positive
as we view the company's solid brand portfolio, unparalleled global distribution and
longer-term synergies with Warnaco as investable catalysts.”
Shares of PVH Corporation closed at $112.74 on Wednesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in