Ralph Lauren price target raised to $115 from $105 at Wells Fargo

Wells Fargo analyst Ike Boruchow raised the firm’s price target on Ralph Lauren to $115 from $105 and keeps an Equal Weight rating on the shares. Ralph Lauren delivered solid Q1 results, including upside to both revenue and gross margin, its first gross margin beat in several quarters, the analyst tells investors in a research note. The story remains largely intact even though the U.S. remains a headwind on the business, the firm says.