Wells Fargo Downgrades Polo Ralph Lauren (RL) to Market Perform On TIF's Weak Results
Tweet
Share
E-mailGet Alerts RL Hot Sheet
Price: $388.92 +0.39%
Rating Summary:
24 Buy, 12 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
24 Buy, 12 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Wells Fargo downgraded Polo Ralph Lauren (NYSE: RL) from Outperform to Market Perform with a price target range $146-$154 (from $157-165)
Wells analyst says, "We think that RL is increasingly positioned as a global luxury goods company and less as a U.S. department store sportswear brand. The company is in the early stages of its growth in Asia, a region that should become increasingly important given the growing demand for luxury, especially from the Chinese consumer. RL also has the opportunity to grow its non-apparel business, especially in accessories, which carry high margin. Near term macro risk in the U.S. and Europe at a premium valuation with tough comparisons keeps us sidelined."
"We lower our FY2012E/FY2013E EPS to $6.89/$8.12 from $6.96/$8.24 to reflect incremental macro pressures (consensus estimates are $6.97/$8.13)."
Other stock of note - Tiffany & Co (NYSE: TIF)
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 $147.32 yesterday.
Wells analyst says, "We think that RL is increasingly positioned as a global luxury goods company and less as a U.S. department store sportswear brand. The company is in the early stages of its growth in Asia, a region that should become increasingly important given the growing demand for luxury, especially from the Chinese consumer. RL also has the opportunity to grow its non-apparel business, especially in accessories, which carry high margin. Near term macro risk in the U.S. and Europe at a premium valuation with tough comparisons keeps us sidelined."
"We lower our FY2012E/FY2013E EPS to $6.89/$8.12 from $6.96/$8.24 to reflect incremental macro pressures (consensus estimates are $6.97/$8.13)."
Other stock of note - Tiffany & Co (NYSE: TIF)
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 $147.32 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wells Fargo Downgrades Roku Inc. (ROKU) to Equal Weight
- Goldman Sachs Downgrades Douglas AG (DOU:GR) to Sell
- UBS Downgrades ASX Limited (ASX:AU) (ASXFY) to Neutral
Create E-mail Alert Related Categories
DowngradesRelated Entities
Wells FargoSign 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!
