Barclays analyst Paul Kearney raised the firm’s price target on Ralph Lauren (RL) to $310 from $257 and keeps an Overweight rating on the shares. The firm says that continued acceleration in comparable stores sales plus a return to wholesale growth demonstrates the momentum of the brand and ability to capitalize on the successful repositioning of the business. Valuation appears elevated, but warranted given its ability to drive above-industry profitable growth, adds Barclays.
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