Raymond James starts Ralph Lauren at Outperform, sees attractive entry point

As previously reported, Raymond James initiated coverage of Ralph Lauren with an Outperform rating and $135 price target. With expectations “relatively low” and valuation “below-average,” the firm sees “an attractive entry point,” the analyst tells investors. The company has made “big strides” elevating its brand, right-sizing wholesale distribution, strengthening direct-to-consumer and improving gross margins, says the analyst, who adds that margins can improve further given the company’s “increasing discipline” around cost savings.