What Happened?
Shares of fashion conglomerate PVH (NYSE: PVH) jumped 3.8% in the afternoon session after the stock's positive momentum continued following positive ratings from Wall Street analysts'. Recently, BTIG initiated coverage on the stock with a 'buy' rating.
The analyst firm set a price target of $100.00, which suggested a potential upside of 22.19% within a year. This positive view of the company was shared by others in the apparel sector. Separately, Raymond James upgraded peer company Capri Holdings from 'Market Perform' to 'Outperform', signaling broader positive sentiment within the industry.
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What Is The Market Telling Us
PVH’s shares are somewhat volatile and have had 14 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
PVH is down 18.5% since the beginning of the year, and at $85.50 per share, it is trading 24.2% below its 52-week high of $112.86 from December 2024. Investors who bought $1,000 worth of PVH’s shares 5 years ago would now be looking at an investment worth $1,392.
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