UPDATE: Cowen Reiterates Market Perform on Ralph Lauren (RL) After Meeting with Management

(Updated - June 22, 2016 9:22 AM EDT)

Cowen reiterated a Market Perform rating and $98.00 price target on Ralph Lauren (NYSE: RL) after meeting with management.

Analyst John Kernan commented, "We recently hosted a meeting with RL management, CEO Stefan Larsson and VP of Investor Relations Evren Kopelman. We came away from the meetings constructive on the long-term turnaround efforts related to sourcing and supply chain. The stock now trades at 19x FY17E EPS and 20x FY17E free cash flow which keeps us to the sidelines."

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 $97.17 yesterday.

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