Ralph Lauren price target raised to $169 from $168 at UBS

UBS raised the firm’s price target on Ralph Lauren to $169 from $168 and keeps a Buy rating on the shares. The analyst notes that the company’s fundamental global sales and margin trends look “solid” and also sees its U.S. DTC sales growth trend improving sequentially in June and July. Market sentiment on the stock also “leans bearish” and investors are probably not expecting Ralph Lauren to raise its FY24 outlook, the firm tells investors in a research note.