PVH Corp. price target lowered to $86 from $92 at BofA

BofA lowered the firm’s price target on PVH Corp. (PVH) to $86 from $92 and keeps a Neutral rating on the shares. Following earnings, the firm is increasing its FY25 EPS estimate by 93c to $12.43, mainly to reflect the $500M accelerated share repurchase plan and slightly higher operating margins, but lowering its multiple to reflect ongoing global macro uncertainty and a second half weighted margin recovery, the analyst tells investors.