Ralph Lauren price target raised to $120 from $115 at Wells Fargo

Wells Fargo raised the firm’s price target on Ralph Lauren to $120 from $115 and keeps an Equal Weight rating on the shares. The firm notes the company delivered a solid Q2 result – including upside to both revenues and gross margins. While U.S. wholesale remains a headwind, global DTC trends have accelerated and its full year plan was left largely intact, Wells says.