Goldman Sachs Downgrades Ralph Lauren (RL) to Neutral

Goldman Sachs downgraded Ralph Lauren (NYSE: RL) from Buy to Neutral with a price target of $156.00 (from $196.00).

Analyst Lindsay Drucker Mann said, "We downgrade RL to Neutral from Buy following a 3Q15 (Dec) EPS miss and disappointing outlook for 4Q15 (Mar) and FY16. We believe the -18% move in the stock on the day (February 4) is appropriate in view of slower underlying business trends and currency-driven downward estimate revisions. We revise FY15/FY16 EPS to $7.82/$7.50 from $8.51/$9.78, reflecting mid-single digit organic sales growth, -550 bps of currency translation, the transactional flow-through, and some positive offset from price increases and cost savings."

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 $139.71 yesterday.

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