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PVH Corp added to Conviction Buy List by Goldman

Goldman Sachs Group Inc (NYSE:GS) added the apparel and accessories manufacturer PVH Corp (NYSE:PVH) to its conviction buy list with a price target of $160 a share. PVH’s acquisition of Warnaco is big reason why Goldman is bullish on the company. The acquisition of Warnaco, which previously had licensing control over Calvin Klein jeans and underwear, now gives PVH full control of the Calvin Klein brand. Prior to the acquisition, PVH didn’t have full control of Calvin Klein’s various brands. In addition to having control over Calvin Klein, PVH is also controls the Tommy Hilfiger brand. According to Goldman, gaining control of two iconic brands will spearhead long-term growth and increase earnings upside.