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Fly News Breaks for April 12, 2016
PVH, RL
Apr 12, 2016 | 07:38 EDT
Cowen analyst John Kernan noted that Ralph Lauren (RL) shares are currently trading at a 28% discount to PVH Corp. (PVH), marking the widest valuation gap between the two in five years, and he believes the downside in Ralph shares is limited at these depressed levels. Conflicting data points on the brand's near-term prospects keep the firm sidelined with a Neutral rating, though Kernan thinks the investor day and strategic update on May 12 should stabilize the stock.
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