UPDATE: Deutsche Bank Initiates Ralph Lauren at Buy on Optimistic Growth Path

In a report published Monday, Deutsche Bank analyst Dave Weiner initiated coverage on Ralph Lauren RL with a Buy rating and a price target of $190.

In the report, Deutsche Bank cited, “Despite an already leading luxury position in the U.S., RL continues to push the needle on growth, including meaningful prospects in Europe, the forthcoming benefits of the Greater China ‘reset', a positive mix shift into accessories (from apparel), and into retail (from wholesale). Importantly, growth is ‘balanced' alongside continuous, strategic, and high-return investments back in the business, which should anchor l/t investors interested in a core luxury brand with ample opportunities.”

Ralph Lauren closed Monday at $168.58.