Ralph Lauren 's solid fundamentals have translated to a promising long-term growth outlook, according to Guggenheim.
The firm upgraded shares of the apparel company to a buy rating from neutral on Monday, and initiated a price target of $166.
Shares of Ralph Lauren have climbed nearly 8% since the start of 2023.
RL YTD mountain Ralph Lauren stock year to date Analyst Robert Drbul cited the company's strong balance sheet and attractive valuation as reasons for the upgrade.
The analyst expects Ralph Lauren's earnings to benefit from several cyclical tailwinds and boosted his estimates for the next two years.
Persons:
Ralph Lauren, Lauren, Robert Drbul, Ralph Lauren's, Drbul, Michael Bloom
Organizations:
Guggenheim