Ralph Lauren price target raised to $423 from $406 at JPMorgan

JPMorgan raised the firm’s price target on Ralph Lauren (RL) to $423 from $406 and keeps an Overweight rating on the shares. The company’s Q1 EPS was 8% above the Street with upside across line items, including a 13.7% increase in reported revenues and gross margin expansion of 180 basis points, the analyst tells investors in a research note. The firm noted that there appear to be zero signs of moderation going forward.