Market Overview

Citigroup Reiterates Buy Rating, $180 PT on Ralph Lauren Corporation Ahead of Wednesday Fiscal Q3 Reports

Related RL
14 Stocks Which Plummeted Three Days On Increasing Volume
25 Stocks Which Rallied Four Days, Then Sold Off Yesterday
Ralph Lauren: 3 Reasons To Sell (Seeking Alpha)

In a report published Monday, Citigroup reiterated its Buy rating and $180.00 price target on Ralph Lauren Corporation (NYSE: RL).

Citigroup noted, “Mgmt reduced Q3 revenue guidance in November to +2% - 3% (down from +MSD previously) over a difficult +16.6% comp last year. Top-line guidance includes 400-500bps of negative impact from strategic decisions (China store closures to reposition its distribution network, discont. of American Living, as well as unfavorable f/x). We are forecasting a -2.5% y/y decline in wholesale, +8-9% increase in retail (boosted by outlets & e-commerce), and +5% increase in licensing revenues. Though RL faces difficult y/y compares through the end of the year (+13.7% comp in Q4), we expect a return to +HSD growth in FY14, driven by DTC and category extensions.”

Ralph Lauren Corporation closed on Friday at $161.54.

Latest Ratings for RL

Sep 2016GuggenheimInitiates Coverage onNeutral
Sep 2016CLSAInitiates Coverage onBuy
Sep 2016MacquarieMaintainsOutperform

View More Analyst Ratings for RL
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Reiteration Analyst Ratings


Related Articles (RL)

View Comments and Join the Discussion!