Ralph Lauren price target raised to $300 from $287 at UBS

UBS raised the firm’s price target on Ralph Lauren (RL) to $300 from $287 and keeps a Buy rating on the shares post the “very solid” fiscal Q2 report. The firm sees the shares outperforming over the near-term due to positive earnings surprises, which drive upward revisions to sell-side estimates and multiple expansion. The earnings beats will cause the market to better appreciate the transformational changes Ralph Lauren has made to its brand image, distribution model and cost structure, the analyst tells investors in a research note.