PVH Corp, the American clothing company, saw its stock plummet 7.19% in pre-market trading on Monday, as investors reacted to news of sweeping new U.S. tariff plans and subsequent analyst downgrades. The company, which owns brands such as Calvin Klein and Tommy Hilfiger, is facing significant headwinds due to its reliance on Asian-sourced products.

Citigroup analysts have slashed their price target for PVH from $83 to $68, citing concerns about the impact of the proposed tariffs. According to Citi, apparel companies like PVH will be hard hit by the new U.S. tariff plan, as they lack the pricing power to offset an assumed 30% blended tariff rate. The analysts warn that attempts to raise prices will likely result in weaker demand, putting further pressure on the company's financials.

Adding to the negative sentiment, TD Cowen also reduced its target price for PVH from $125 to $109. These downgrades, combined with the broader implications of the tariff plans for the apparel industry, have contributed to the sharp pre-market decline in PVH's stock price. As the market opens, investors will be closely watching how PVH and other apparel makers navigate these challenging economic conditions.