4 Reasons Why This Ralph Lauren Analyst Is Bullish: 'Lower Cotton, Freight Expenses'
Portfolio Pulse from Priya Nigam
Shares of Ralph Lauren Corp (NYSE:RL) continued their upward trajectory on Monday, following a spike last Friday. The company has been adding around 1.3 million new consumers every quarter to its DTC channel over the past couple of years. Guggenheim analyst Robert Drbul upgraded the rating for Ralph Lauren from Neutral to Buy, establishing a price target of $166. The upgrade is based on four reasons including upside to current consensus estimates for earnings in fiscal 2024 and 2025, lower cotton and freight expenses, attractive stock trading multiple, and recent pullback in shares providing an attractive entry point.
September 18, 2023 | 3:45 pm
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Ralph Lauren's stock continues to rise, with an upgrade from Guggenheim analyst Robert Drbul from Neutral to Buy. The upgrade is based on lower cotton and freight expenses, attractive stock trading multiple, and recent pullback in shares providing an attractive entry point.
The upgrade from Guggenheim analyst Robert Drbul is a strong positive signal for Ralph Lauren's stock. The reasons cited for the upgrade, including lower cotton and freight expenses, attractive stock trading multiple, and recent pullback in shares providing an attractive entry point, are all factors that could drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100