Market Overview

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

Related RL
Amid Q2 'Apparel Malaise,' Bank Of America Analyst Picks Potential Winners, Losers
Top 4 NYSE Stocks In The Textile-Apparel Clothing Industry With The Highest Dividend Yield
Ralph Lauren Profit Beats as Sales Rise (Fox Business)

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.

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

 

Most Popular

Related Articles (RL)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free