In a note released Thursday, Credit Suisse analyst Christian Buss upgraded shares of Ralph Lauren RL from Neutral to Outperform and raised the price target from 165 to $180.
Buss attributed the upgrade to improved visibility to:
- A rebound in retail segment comps and sales growth
- Persistent strength in core wholesale accounts
- Margin rebound now expected in early calendar-year 2015 opposed to late 2015
- Improving apparel industry conditions
"In short, this now looks to be a company with healthy global demand for the brand, and supply chain infrastructure that is being rationalized, operating under a more favorable industry backdrop. As a result, we now believe the company can sustain a 15 percent plus earnings growth on a multi-year basis, warranting a premium multiple."
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