Piper Jaffray analyst Erinn Murphy believes shares of PVH Corp. are at a "compelling" entry point. Despite external "noise" in the space from tariffs, currency moves and macro conditions, PVH continues to execute and its sales trends have continued quarter-to-date, Murphy tells investors in a research note after traveling with management. While China tariffs remain a broad uncertainty on the group, PVH's direct exposure to the region lower than most, the analyst contends. She views the stock as inexpensive and is a buyer of PVH at current levels. Murphy keeps an Overweight rating on the name with a $177 price target.