Wells Fargo analyst Ike Boruchow raised the firm’s price target on Ralph Lauren (RL) to $275 from $225 and keeps an Equal Weight rating on the shares. The firm cites another material beat/raise from Ralph Lauren as its brand heat continues to accelerate, while total revenue growth pushes higher due to stabilization in U.S. wholesale. There are no fundamental holes to poke as the story likely continues to re-rate, Wells adds.
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