Ralph Lauren price target raised to $404 from $385 at UBS

UBS analyst Jay Sole raised the firm’s price target on Ralph Lauren (RL) to $404 from $385 and keeps a Buy rating on the shares. The firm sees Ralph Lauren outperforming over the near-term due to positive EPS surprises, which will cause the market to better appreciate the transformational changes Ralph Lauren has made to its brand image, distribution model, and cost structure, the analyst tells investors in a research note.