These Analysts Increase Their Forecasts On Ralph Lauren Following Strong Earnings

Ralph Lauren Corporation RL reported better-than-expected second-quarter financial results on Thursday.

Quarterly adjusted earnings per share of $2.54, topped the consensus of $2.41. Quarterly revenues of $1.726 billion beat the street view of $1.677 billion.

Patrice Louvet, President and Chief Executive Officer, commented, "Our strong business performance across every geography this quarter underscores the resilience of our diversified growth drivers and our elevated consumer base, giving us confidence to take up our financial outlook for the full fiscal year ahead of the all-important holiday season."

Fore third quarter, Ralph Lauren expects constant currency revenues to grow approximately 3% to 4%, with foreign currency to benefit revenue growth by approximately 10 to 50 basis points.

Ralph Lauren shares gained 0.3% to trade at $222.27 on Friday.

These analysts made changes to their price targets on Ralph Lauren following earnings announcement.

• TD Cowen analyst John Kernan maintained Ralph Lauren with a Buy and raised the price target from $251 to $258.
• UBS analyst Jay Sole maintained the tock with a Buy and raises the price target from $287 to $300.
• Raymond James analyst Rick Patel maintained Ralph Lauren with an Outperform and raised the price target from $215 to $235.
• Barclays analyst Adrienne Yih maintained the stock with an Overweight and boosted the price target from $200 to $257.

Considering buying RL stock? Here’s what analysts think:

Read More:

• How To Earn $500 A Month From Nvidia Stock After Trump Win