Citi Reiterates Neutral Rating on PVH Corp (PVH)

Citi analyst Paul Lejuez reiterated a Neutral rating and $120.00 price target on PVH Corp (NYSE: PVH).

The analyst comments "We expect 1Q sales/EPS inline with consensus and guidance. We model sales -10.5% (vs guidance -11.0%, consensus -10.6%). We model EPS of $2.17 (vs guidance of $2.15, consensus $2.16). When mgmt gave guidance last quarter, it was well below consensus at the time and was based on a YTD slowdown the company was seeing. Because they reported on 4/1 and were already seeing weakness (2 months into their 1Q), we believe weaker trends were captured in their guidance (and we do not believe there was a big step down in April). We expect a reiteration of F24 guidance of $10.75-11.00 (vs consensus $10.96). Although the stock was -22% the day following the earnings release, it is up +7% since then, so sentiment has improved somewhat. But we do not expect any big surprises like we saw in 4Q, so we wouldn’t expect a big stock move on the day."

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 $114.79 yesterday.

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