These Analysts Increase Their Forecasts On Ralph Lauren After Upbeat Q1 Results

Ralph Lauren Corporation HLLY reported better-than-expected earnings for the first quarter.

Ralph Lauren reported first-quarter FY24 sales growth of 0.4% year-on-year to $1.50 billion, beating the analyst consensus of $1.48 billion. Comparable store sales grew 2%. Adjusted EPS of $2.34 beat the consensus estimate of $2.13.

Ralph Lauren reiterated its FY24 outlook for revenues to increase approximately low-single digits on a constant currency basis.

Ralph Lauren shares fell 4.8% to close at $122.30 on Thursday.

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

Barclays boosted the price target on Ralph Lauren from $139 to $141. Barclays analyst Adrienne Yih maintained an Overweight rating.

Deutsche Bank increased the price target on Ralph Lauren from $127 to $128. Deutsche Bank analyst Gabriella Carbone maintained a Hold rating.

Telsey Advisory Group analyst Dana Telsey, meanwhile, reiterated Ralph Lauren with an Outperform and maintained a $155 price target.

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