Ralph Lauren price target raised to $285 from $260 at Guggenheim

Guggenheim raised the firm’s price target on Ralph Lauren (RL) to $285 from $260 and keeps a Buy rating on the shares. The “significant” investment in marketing and advertising spend made by the company over the past seven years have proven to be beneficial to both top and bottom lines in recent years, says the analyst, who estimates sales to grow about 9% and operating margin to expand about 210 basis points in FY25. The firm thinks management has “successfully elevated the brand,” continues to make solid progress attracting new customers, and is taking appropriate steps to drive long-term meaningful growth, the analyst added in a Q3 preview.