Ralph Lauren (RL): Raising PT But Acknowledge Lack of Visibility Beyond '17

August 11, 2016 6:23 AM EDT
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Price: $89.29 -0.32%

Rating Summary:
    9 Buy, 20 Hold, 0 Sell

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    Up: 13 | Down: 22 | New: 54
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Cowen analyst, John Kernan, reiterated his Market Perform rating on Ralph Lauren (NYSE: RL) after the company reported non-GAAP EPS of $1.06 vs. consensus of $0.89. The analyst notes that the results excluded $159MM of restructuring charges. Guidance for 2H implies mid-teen revenue declines as the turnaround story remains in the early innings.

The analyst raised his price target to $101 from $98 on slightly higher EPS estimates, representing 18x FY18E EPS and 1.3x EV/Sales but acknowledges uncertainty beyond FY17.

For an analyst ratings summary and ratings history on Ralph Lauren click here. For more ratings news on Ralph Lauren click here.

Shares of Ralph Lauren closed at $103.14 yesterday.

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