Ralph Lauren initiated with a Buy at Jefferies

Jefferies initiated coverage of Ralph Lauren with a Buy rating and $195 price target. The analyst likes the company for increasing brand quality, margin expansion, and management execution. The firm expects Ralph Lauren’s steady growth to continue based on momentum with brand elevation and younger customers. It sees the company’s solid growth profile, healthy balance sheet and capital returns, and strong execution leading to a relatively higher absolute multiple versus peers and increased investor interest.