Goldman Sachs Upgrades Polo Ralph Lauren (RL) to Conviction Buy

Goldman Sachs upgraded Polo Ralph Lauren (NYSE: RL) to Conviction Buy with a price target of $190, suggesting 35% upside.

The firm calls Ralph Lauren a secular share gainer with: 1. near-term catalyst as F3Q12 is likely last tough quarter and represents an inflection point for margin and EPS growth; 2. long-term runway of double-digit revenues levered across 20% EBIT margins to power 20% EPS growth over the next five year.

The firm raised FY12/13/14 EPS estimates to $7.11/$8.75/$10.15 from prior $7.10/$8.25/$9.15.

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

Shares of Polo Ralph Lauren closed at $140.70 yesterday.

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