Needham & Company Reiterates a 'Buy' on Polo Ralph Lauren (RL); Sprinting Past Expectations

Needham & Company reiterates a 'Buy' on Polo Ralph Lauren (NYSE: RL) price target of $181.00.

Needham analyst says, "RL is a quality, luxury brand with long term growth in retail & wholesale, fueled by integrating recent Asian acquisitions. RL is wellpositioned for the Holiday due to product with pricing power & a strong Management team that executes well even in challenging economic environments. At ~18x our increased CY12 EPS estimate of $8.19, RL is trading above the sector average of ~14x, but below its long term growth rate of 20% to 25%. We believe RL should trade at a premium to the sector & at least in-line with the mid-point of its growth rate of 20% to 25%."

"We are adjusting our F3Q, F4Q, FY12, & CY12 EPS estimates to $1.72, $0.95, $7.03, & $8.19, respectively, from $1.75, $0.99, $6.90, & $8.04...We are adjusting our F2Q & FY13 EPS estimates to $2.93 & $8.60, respectively, from $2.74 & $8.41."

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 $149.94 yesterday.

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