PVH Corp, Ralph Lauren Get Upgrades From Goldman Sachs: Here's Why The Retailers Trading At 52-Week Highs Get Love Into 2024
Portfolio Pulse from Chris Katje
Goldman Sachs analyst Brooke Roach upgraded PVH Corp (NYSE:PVH) from Neutral to Buy with a price target increase from $99 to $126, citing cost savings, wholesale partnerships, and improved profitability into 2024. Ralph Lauren Corp (NYSE:RL) was upgraded from Sell to Neutral with a price target increase from $107 to $132, due to supply chain benefits, margin improvements, and consistent brand strength. Both companies are trading at 52-week highs.
December 13, 2023 | 9:30 pm
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POSITIVE IMPACT
Goldman Sachs upgraded PVH Corp to Buy, raising the price target from $99 to $126 due to expected profitability improvements and strategic initiatives.
The upgrade by Goldman Sachs to a Buy rating and the increase in price target for PVH Corp reflect a positive outlook on the company's cost-saving measures and strategic initiatives, which could lead to improved margins and profitability. This is likely to be viewed favorably by investors, potentially driving the stock price up in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Goldman Sachs upgraded Ralph Lauren Corp from Sell to Neutral with a price target increase from $107 to $132, noting supply chain and margin benefits.
The upgrade of Ralph Lauren Corp from Sell to Neutral and the increase in price target suggest that the company's supply chain benefits and margin improvements are being recognized. While the upgrade to Neutral indicates a more cautious optimism, the raised price target could still lead to positive investor sentiment and a potential increase in the stock price in the short term.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80