Raymond James has upgraded Ralph Lauren from market perform to outperform, setting a price target of $410, which suggests a nearly 7% upside from the stock's recent closing price. Analyst Rick Patel highlighted several factors contributing to this positive outlook, including the durability of average unit retail prices, strong sales momentum in China, and expansion opportunities in Europe.
The firm anticipates an 8% revenue increase for Ralph Lauren's fiscal first quarter, aligning with the company's guidance. Patel noted that channel checks indicated positive trends in website traffic and mobile app engagement, reinforcing the expectation that Ralph Lauren could exceed revenue forecasts.
Currently, 17 out of 20 analysts covering the stock have a buy or strong buy rating, reflecting a consensus view of optimism in the market. Year-to-date, Ralph Lauren shares have appreciated approximately 9%