02:20 PM EDT, 03/21/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month price target by $34 to $159, based on 12.0x our FY 2025 (Jan.) EPS estimate and below the company's five-year average forward P/E multiple of 13.1x. We maintain our FY 2024 EPS estimate of $10.50 and raise our FY 2025 EPS estimate by $0.75 to $13.25. We believe PVH will continue to benefit from the exit of Heritage Brands over the next 12 months as it continues to focus on its two core brands, Calvin Klein and Tommy Hilfiger. We see gross margin expanding to 10.3% in FY 2025 as PVH benefits from more efficient operations and freight and supply chain tailwinds. We see multiple expansion as a base case now and expect shares to trade around 12.5x forward EPS estimates and up 8.2x over the past two years. We believe shares still have plenty of upside even after a 75%+ move over the past six months due to what we believe is a leaner, more efficient company with two strong core brands.