Polo Ralph (RL) volatility elevated into Q4 and China outlook

Polo Ralph (NYSE: RL) is expected to release Q4 results on May 22. CLSA reiterated its Outperform rating and lowered its price target to $180 from $200 on lower estimates. June put option implied volatility of 43 is above its 26-week average of 33 according to Track Data.

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