🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

These Analysts Increase Their Forecasts On Ralph Lauren After Upbeat Q1 Results

Published 11/08/2023, 15:20
Updated 11/08/2023, 16:40
© Reuters.  These Analysts Increase Their Forecasts On Ralph Lauren After Upbeat Q1 Results

Benzinga - by Lisa Levin, Benzinga Editor. Ralph Lauren Corporation (NYSE: HLLY) reported better-than-expected earnings for the first quarter.

Ralph Lauren reported first-quarter FY24 sales growth of 0.4% year-on-year to $1.50 billion, beating the analyst consensus of $1.48 billion. Comparable store sales grew 2%. Adjusted EPS of $2.34 beat the consensus estimate of $2.13.

Ralph Lauren reiterated its FY24 outlook for revenues to increase approximately low-single digits on a constant currency basis.

Ralph Lauren shares fell 4.8% to close at $122.30 on Thursday.

These analysts made changes to their price targets on Ralph Lauren following earnings announcement.

Barclays boosted the price target on Ralph Lauren from $139 to $141. Barclays analyst Adrienne Yih maintained an Overweight rating.

Deutsche Bank increased the price target on Ralph Lauren from $127 to $128. Deutsche Bank analyst Gabriella Carbone maintained a Hold rating.

Telsey Advisory Group analyst Dana Telsey, meanwhile, reiterated Ralph Lauren with an Outperform and maintained a $155 price target.

Read More: Flowers Foods, Spectrum Brands And 3 Stocks To Watch Heading Into Friday

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.