Ralph Lauren price target raised to $330 from $285 at Jefferies

Jefferies analyst Ashley Helgans raised the firm’s price target on Ralph Lauren (RL) to $330 from $285 and keeps a Buy rating on the shares after the company reported quarterly results. Brand elevation, distribution changes, and marketing activations are showing clear returns, and while the Q4 guidance is impacted by foreign exchange appears conservative, topline 6%-7% constant currency is “encouraging,” the analyst tells investors in a research note. The firm also noted that North America wholesale flipped positive, a testament to brand heat and traction with luxury department stores. Momentum ahead of the investor day this fall should lead to positive direction of travel, despite valuation reaching the high end of its range, the analyst notes.