Ralph Lauren (RL – Research Report), the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Ashley Helgans from Jefferies maintained a Buy rating on the stock and has a $330.00 price target.
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Ashley Helgans has given his Buy rating due to a combination of factors including Ralph Lauren’s strong Q3 performance and promising future outlook. The company surpassed expectations with net revenue of $2.14 billion, beating consensus estimates, driven by robust growth in North America and Europe. The gross margin percentage improved significantly, showcasing the effectiveness of strategic marketing and distribution initiatives.
Additionally, the luxury brand’s performance in China remains impressive, with sales growth exceeding 20%. Ralph Lauren’s ability to maintain a strong average unit retail growth, along with the positive momentum in North American wholesale, further substantiates the buy recommendation. Despite some foreign exchange challenges, the raised fiscal year guidance and ongoing brand elevation efforts suggest continued strength and potential for future gains.
Helgans covers the Consumer Cyclical sector, focusing on stocks such as Tapestry, Capri Holdings, and Ralph Lauren. According to TipRanks, Helgans has an average return of -9.4% and a 34.18% success rate on recommended stocks.
In another report released today, Barclays also maintained a Buy rating on the stock with a $310.00 price target.