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Wells Fargo upgrades PVH Corp (NYSE: PVH) to Overweight post Q1FY2023 announcement

Mon 05 Jun 23, 07:00 AM | Akanksha Vashisht

Wells Fargo upgrades recommendation on PVH Corp (NYSE: PVH) post above-guidance results in Q1 2023

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PVH Corp. (NYSE: PVH) reported a first quarter revenue of US$ 2.158 billion, higher than the company expectations of no major change over the prior year period. After the announcement, PVH received a rating upgrade from Wells Fargo Securities.

Wells Fargo upgraded PVH to ‘Overweight’ rating post the release of its financial results for Q1 2023. The broker’s price target on the stock was US$ 110, which is 41.68% higher than its closing price of US$ 77.64 on June 2, 2023.

As per data available on Refinitiv, PVH has a mean recommendation rating of 2.4 on a scale from one to five. Here, one corresponds to a recommendation of ‘Strong Buy’ while five corresponds to ‘Strong Sell’ recommendation.

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