Bank of America Securities downgraded PVH Corp to Underperform from Neutral and cut its price target to $70 from $90, citing weaker European demand and headwinds in the Middle East and Turkey. The firm noted that about 50% of PVH's exposure comes from the EMEA region, limiting upside due to the Middle East conflict, and expects 2026 EBIT margins to remain flat amid tariff costs, licensing changes, and higher marketing expenses. Earlier, Citi lowered its price target to $78 from $80 while maintaining a Neutral rating, pointing to a weak start to Q2 from slower European demand and a balanced risk-reward outlook.
PVH CorpWeaker European demand and headwinds in Middle East and Turkey, with about 50% exposure to EMEA region.