Barclays lowered the firm’s price target on PVH Corp. (PVH) to $98 from $144 and keeps an Overweight rating on the shares. The firm reduced estimates on the announcement by China’s Ministry of Commerce, which placed PVH on the “Unreliable Entity List.” The situation remains fluid, with no actions announced, and can change over the coming weeks, the analyst tells investors in a research note. Barclays believes PVh’s valuation embeds the risk.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PVH:
- PVH Faces Challenges with China’s Unreliable Entities List
- Illumina (NASDAQ:ILMN) and PVH among First Casualties in China’s Trade War Strike
- Alphabet’s Google Caught in the Crossfire of the U.S.-China Tariffs War
- Wells downgrades PVH on inventory, currency headwinds
- PVH Corp. downgraded to Equal Weight from Overweight at Wells Fargo