Ralph Lauren Gets Price Target Bumps By Analysts Following Better-Than-Expected Q4 Earnings

Ralph Lauren Corp RL reported better-than-expected fourth-quarter financial results.

Ralph Lauren reported fourth-quarter FY23 sales growth of 1% year-on-year to $1.54 billion, beating the consensus of $1.47 billion. Adjusted EPS of $0.90 beat the analyst consensus of $0.61.

Ralph Lauren expects FY24 revenues to increase approximately low-single digits on a constant currency basis.

Ralph Lauren shares gained 5.3% to close at $114.00 on Thursday.

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

• Deutsche Bank raised the price target on Ralph Lauren from $119 to $122. Deutsche Bank analyst Gabriella Carbone maintained a Hold rating.
• Barclays increased the price target on Ralph Lauren from $134 to $139. Barclays analyst Adrienne Yih maintained an Overweight rating.
• Telsey Advisory Group analyst Dana Telsey, meanwhile, reiterated Ralph Lauren with a Outperform and maintained a $140 price target.

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