Wunderlich Securities Sees FX Nightmare Become Reality For PVH
In a report published Thursday, Wunderlich Securities analyst Eric Beder reiterated a Buy rating and $125.00 price target on PVH Corp. (NYSE: PVH).
In the report, Wunderlich Securities noted, "We are reiterating our Buy rating and $125 price target on PVH Corp. (PVH) while lowering our FY16E EPS to $6.80 and FY17E EPS to $8.24 after the company reported solid fiscal 4Q15 EPS upside but missed on revenue due to prevalent foreign currency headwinds and initiated 1Q and FY16 guidance materially below the Street, driven entirely by FX. While the Calvin Klein and Tommy Hilfiger brands experienced MSD% and HSD% constant currency revenue growth, respectively, FX issues obscured 4Q progress and should blot out any upside in FY16.
"As such, we expect FY16 to be another year of investors waiting for the promise of Tommy and Calvin to drive solid upside; that said, we believe the risk/reward in the name remains positive."
PVH closed on Wednesday at $104.03.
Latest Ratings for PVH
Mar 2015 | Citigroup | Maintains | Neutral | |
Mar 2015 | Goldman Sachs | Downgrades | Conviction Buy | Neutral |
Feb 2015 | JP Morgan | Maintains | Neutral |
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