Fly News Breaks for March 29, 2019
Mar 29, 2019 | 09:11 EDT
DA Davidson analyst John Morris raised his price target on PVH Corp to $150 and kept his Buy rating after its "strong" Q4 results and "impressive order books" heading into 2019, which he believes reflect the "power of the company's brands in Europe." The analyst also cites the company's "very reasonable" outlook for the first half of 2019 that accounts for the "slow start to Spring, Brexit issues, and tariff uncertainty". Morris adds that the guidance positions PVH to outperform in the second half of the year as last year's Calvin Klein denim disaster is lapped and the company begins to benefit from "updated digitalized marketing and Tommy Hilfiger's wholesale expansion".
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