Barron's sees upside for PVH shares with Warnaco expansion
NEW YORK Dec 22 (Reuters) - Shares of PVH Corp could jump about 20 percent in the year ahead, business weekly Barron's wrote on Sunday, citing the company's recent expansion of its Calvin Klein franchises.
Clothing company PVH earlier this year acquired Warnaco for $2.9 billion, buying the company that held a license for Calvin Klein underwear and jeans. PVH previously owned the license to other Calvin Klein clothing and accessory lines.
"Investors should regard (the Warnaco acquisition) as a clear path to faster profit growth," Barron's wrote. "PVH has a knack for making its purchases pay off for shareholders."
Shares of PVH on Friday closed at $130.88 on the New York Stock Exchange and are up about 18 percent so far in 2013.
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