HomeFinancial MarketsUBS Analyst Sees a Big Upside for Calvin Klein Owner PVH’s Stock

UBS Analyst Sees a Big Upside for Calvin Klein Owner PVH’s Stock

PVH Corp., the parent company for luxury brands Calvin Klein and Tommy Hilfiger, has seen its stock heading toward recovery after a surprising dip in April. But, according to analysts at investment bank UBS, this might just be the beginning.

In a note sent to clients last week, UBS analyst Jay Sole identified PVH stock as one with a big upside. Sole reiterated the “BUY” rating on the company’s shares while raising its target price to $174. This implies that the stock is heading towards a jump of more than 40%.

Sole expects the company to bounce back after slightly underwhelming sales in the last quarter and is poised for positive earnings that will drive the share prices up.

“We think PVH has the brand strength and balance sheet to drive earnings growth over the long term,” Sole wrote in the note. “Importantly, we anticipate more beat and raise quarters over the [next 12 months]. This should drive sell-side EPS estimates higher.”

PVH stock saw a 25% plunge back in April after the company saw stagnating revenue and issued a conservative forecast for the first quarter. However, the company’s stock has been climbing up since then, rising more than 13%. The stock closed at $119.94 per share on Friday and is currently down 1.55% year-to-date.

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