PVH Posts Q2 Beat, But Analysts Expect Softer Trends In US And China To Continue

Shares of PVH Corp (NYSE:PVH) — the owner of Tommy Hilfiger, Calvin Klein, Warner’s, Olga and True & Co. — tanked Wednesday after the clothing company reported downbeat second-quarter earnings.

• Goldman Sachs analyst Brooke Roach maintained a Buy rating and price target of $144.
• JPMorgan analyst Matthew Boss reiterated an Overweight rating and price target of $154.

Check out other analyst stock ratings.

Goldman Sachs: PVH reported adjusted earnings of $3.01 per share, beating consensus of $2.29 per share, driven mainly by a 55 cents per share benefit from “an unplanned favorable tax settlement,” Roach said.

Revenues declined by 6% year-on-year, but came in better than market expectations of a 6.3% contraction, she added.

PVH raised its …

Full story available on Benzinga.com