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Fly News Breaks for March 18, 2019
PVH
Mar 18, 2019 | 07:56 EDT
Citi analyst Paul Lejuez assumed coverage of PVH Corp. from Kate McShane and downgraded the shares to Neutral from Buy. He lowered his price target to $120 from $140. While PVH has two brands with good global growth potential in Tommy Hilfiger and Calvin Klein, the company overall is still heavily dependent on the North America wholesale and outlet channels. The analyst is concerned that exposure to wholesale/outlet channels will weigh on sales and profits in the coming years, limiting the stock's upside.
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