Market Overview

UPDATE: Bank of America Raises PO to $165 on Ralph Lauren on Gross Margin Outlook

Share:
Related RL
Retail Expert: Ralph Lauren Hiring Management From Coach Is Like Chipotle Hiring From Taco Bell
Piper's Murphy Lifts Ralph Lauren Target To $88 Following Investor Day
Where Will Ralph Lauren Bottom? (Seeking Alpha)

Bank of America reiterated its Buy rating on Ralph Lauren (NYSE: RL) and raised its price objective from $160 to $165.

Bank of America said, "We are maintaining our F2013E EPS to $7.85, as F2Q EPS upside and an improving full year GM outlook is partially offset by expected declines in wholesale (reduced China distribution and American Living exit), weaker Asia and tourist retail trends, closing of Rugby, continued costs for strategic initiatives, and unfavorable FX effects. We are adjusting our PO to $165 (from $160) 18-19x our F14E EPS of $8.75.

Ralph Lauren closed at $160.75 on Friday.

Latest Ratings for RL

DateFirmActionFromTo
Jun 2016Credit SuisseMaintainsNeutral
Jun 2016Bank of AmericaUpgradesUnderperformNeutral
Jun 2016CitigroupMaintainsBuy

View More Analyst Ratings for RL
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (RL)

View Comments and Join the Discussion!