These Analysts Increase Their Forecasts On Ralph Lauren After Upbeat Q1 Results
Portfolio Pulse from Lisa Levin
Ralph Lauren Corporation reported better-than-expected Q1 FY24 earnings with sales growth of 0.4% YoY to $1.50 billion, beating the analyst consensus. The company reiterated its FY24 outlook for revenues to increase in low-single digits. Following the earnings announcement, Barclays, Deutsche Bank, and Telsey Advisory Group revised their price targets for Ralph Lauren.
August 11, 2023 | 2:20 pm
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Ralph Lauren's better-than-expected Q1 results and positive FY24 outlook may boost investor confidence. However, the stock fell 4.8% after the announcement. Analysts have revised their price targets.
Ralph Lauren's Q1 results exceeded expectations and the company maintained a positive outlook for FY24, which could boost investor confidence. However, the stock fell after the announcement, indicating a mixed market reaction. The revised price targets by analysts suggest a positive long-term outlook but the immediate impact is neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100