Jefferies expects apparel maker PVH’s beat-down stock to stage a recovery. Analyst Ashley Helgans upgraded the Tommy Hilfiger and Calvin Klein parent to buy from hold and lifted her price target by $35 to $105. Helgans’ updated forecast suggests shares can surge 30.4% from Tuesday’s close. “PVH has made meaningful progress in transitioning to a more focused, efficient, and strategic company,” Helgans wrote in a Tuesday note to clients. “With a compelling roadmap and high-caliber management in place, it should see improved [long-term] results.” PVH can see sales increasing by low single-digit percentages after declining by mid single-digit percentages last year, according to the analyst. That’s due to new management initiatives and the company lapping now-mitigated headwinds, she added. On the finance front, Helgans said cost-saving work and buybacks can bring earnings per share to see growth by high single-digit percentages this year and a low double-digit percentage next year. Helgans said China is a key macro risk currently given the unreliable entity list could restrict the company’s operations in the region, which accounts for about one-fifth of EBIT. However, she said this overhang can be solved by licensing outsourcing or other resolutions, which could in turn be a catalyst for the stock. The analyst also clarified that the company has “minimal” exposure of Chinese products coming into the U.S., making the state of tariffs a nonissue. Helgans went on to note that the U.S. only accounts for about 30% of the company’s sales. Helgans also pointed out that even with her increased price target, the stock is still at 7.5-times its price-to-earnings multiple. That’s about 40% below peers, she said. Shares popped 2.7% following the upgrade. However, shares have plunged more than 23% in 2025, extending losses after sliding more than 13% in the prior year. PVH YTD mountain PVH, YTD
