Jefferies Upgrades PVH Corp (PVH) to Buy

Jefferies analyst Ashley Helgans upgraded PVH Corp (NYSE: PVH) from Hold to Buy with a price target of $105.00 (from $70.00).

The analyst comments: "New mgmt initiatives & lapping one-time headwinds are set to return sales to +LSD% from -MSD% LY, a key catalyst for val. Cost saves and buyback further bolster EPS to HSD% this yr and LDD% next yr (we model +7% vs cons). China overhang from regs could be solved through license or improving trade relations. Our DCF suggests limited downside at ~$65. Base PT of $105 = 7.5x P/E, still ~40% below peers, while upside case is ~$150 on recovery to industry levels."

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 $80.50 yesterday.

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