BMO Capital Reiterates Underperform Rating on Ralph Lauren (RL)
BMO Capital analyst Simeon Siegel reiterated an Underperform rating and $113.00 price target on Ralph Lauren (NYSE: RL).
The analyst comments "In-line top line, better GM, excluding more restructuring/severance (four of last five quarters excluded a >$6.5mm restructuring charge) drove adjusted EPS beat. Perhaps more importantly, CFO/COO Jane Nielsen, who we believe successfully turned the business pre-COVID-19 (well before others), a rare leader who appreciates smaller can be healthier, is transitioning from CFO, remaining COO through FY25. This matters. Commend GM improvement, but wondering what's happening with labor and believe the management transition matters."
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Shares of Ralph Lauren closed at $164.20 yesterday.