UPDATE: Piper Jaffray Raises PT on PVH to $81

Piper Jaffray is out with its report today on PVH PVH, raising its PT to $81 from $75. In its report, Piper Jaffray writes, "We believe global demand for the Calvin Klein and Tommy Hilfiger brands will continue to drive top line and earnings growth over the next several years. Our price target increases from $75 to $81 based on 14x FY13E EPS of $5.77." Piper Jaffray reiterates Overweight on PVH. Shares of PVH closed Tuesday at $64.90, up 0.64% from Monday's close.