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Fly News Breaks for November 27, 2019
Nov 27, 2019 | 09:03 EDT
DA Davidson analyst John Morris raised his price target on PVH to $115 and kept his Buy rating after its "quality" Q3 beat, even though the management was cautious about the 2nd half of the year due to "tariffs, exposure to instability in China, and potentially promotional Holiday" season. The analyst believes that the "healthy" Fall 2019 period bodes well for 2020, with early indications that Fall 2020 order books are "positive" and Spring/Summer order books are up 12% from last year. Morris states that with TH and CK brands "firing on all cylinders", he expects PVH to capture more demand going into 2020.
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