Ralph Lauren initiated with a Buy at Needham

Needham initiated coverage of Ralph Lauren (RL) with a Buy rating and $310 price target The firm views the stock as a “compelling momentum play.” Ralph Lauren continues to execute very well on its strategy to elevate the brand and improve pricing, brand heat, and margin, the analyst tells investors in a research note. Needham points out the company experienced nearly eight straight years of year-over-year growth in average unit retail, or net pricing, in its direct-to-consumer channel. The stock can “keep grinding higher as earnings grow nicely,” contends the firm.