Benzinga - by Priya Nigam, Benzinga Staff Writer.
Shares of Ralph Lauren Corp (NYSE: RL) Monday continued their upward trajectory, after the spike on Friday last week.
The company added around 1.3 million new consumers every quarter to its DTC channel over the past couple of years and the rapid growth continues, according to Guggenheim.
The Ralph Lauren Analyst: Robert Drbul upgraded the rating for Ralph Lauren from Neutral to Buy, while establishing a price target of $166.
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The Ralph Lauren Thesis: The company’s investments in high-quality customer recruitment and higher distribution seem to be working, as it added 1.2 million new customers last quarter, Drbul said in the upgrade note.
The analyst listed four reasons for the upgrade in rating:
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