Ralph Lauren shares have gained about 12% to start off 2023, but the firm expects shares to rise another 20%.
Buy Ralph Lauren in a challenging retail environment, Bank of America says. Analyst Christopher Nardone upgraded the apparel stock to buy from neutral, and raised his price target, saying the brand can pull away from its peers as retailers deal with a promotional backdrop.
Ralph Lauren shares have gained about 12% to start off 2023. The stock outperformed the S & P 500 in 2022, losing 11%, as the broader index fell 19%. Still, the analyst's $145 price target, raised from $130 previously, suggests shares can rise another 22% from Friday's closing price. The stock added more than 2% in Monday premarket trading.
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