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Piper Jaffray Cuts Price Target on Ralph Lauren (RL) Following Negative FY17 Expectations

February 4, 2016 1:47 PM EST

Piper Jaffray reiterated a Neutral rating on Ralph Lauren (NYSE: RL), and cut the price target to $94.00 (from $116.00), following the company's 3Q earnings report, and challenging guidance. Ralph Lauren provided initial color around FY17, below the Street. Revenue is expected to be negative on a Y/Y basis, below prior estimates of 4.2% growth. On the call, new CEO Stefan Larsson indicated he was... More