With an emphasis on cozy, at-home activities, the Covid-19 pandemic didn’t leave much room for preppy, chic clothing in many people’s budgets last year. That was a problem for Ralph Lauren, which has seen its stock fall nearly 10% in the past 12 months. Yet that losing streak may be about to change, Telsey Advisory Group says.
Analyst Dana Telsey reiterated an Outperform rating on Ralph Lauren (ticker: RL) on Friday, while raising her price target to $120 from $88. The move comes ahead of the company’s fiscal third-quarter earnings, due out next week, which she thinks can surprise on the upside, given strength in Asian markets, its e-commerce growth, and ongoing strategic initiatives.
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