PVH, Parent Of Calvin Klein, Tommy Hilfiger, Impresses Analysts With Q1 Earnings Beat
Shares of PVH Corp (NYSE:PVH) were climbing in early trading on Wednesday, after the company reported upbeat earnings for its first quarter.
The results came amid an exciting earnings season. Here are some key analyst takeaways.
BMO Capital Markets On PVH
Analyst Simeon Siegel maintained a Market Perform rating, while raising the price target from $110 to $119.
PVH’s revenue declined by around 10%, but came in better than the guidance, with stronger-than-expected gross margins “flowing through to a bottom-line beat,” Siegel said in a note. “PVH ranks near the top of the group for GM expansion this quarter,”
While Calvin Klein performed better than expected on strength in North America, Tommy Hilfiger’s performance was slightly disappointing due to pressure in Europe, the analyst stated. Management raised the full-year earnings guidance “on tax/Interest while reiterating sales and EBIT margin despite better 1Q EBIT (suggesting a likely conservative implied rest-of-FY EBIT guide down),” he further wrote.
JPMorgan On PVH
Analyst Matthew Boss …
Full story available on Benzinga.com