Ralph Lauren (RL): Raising PT But Acknowledge Lack of Visibility Beyond '17
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- China Oceanwide to Acquire Genworth Financial (GNW) for $2.7B
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
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.
Shares of Ralph Lauren closed at $103.14 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- KLA-Tencor (KLAC) PT Raised to $85 at Cowen
- Imperial Capital Raises Price Target on American Airlines (AAL) Following 3Q EPS Beat
- Jefferies Cuts Price Target on Reliance Steel (RS) Following 3Q EPS Miss and Guidance
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesCowen & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!