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Fly News Breaks for June 8, 2016
RL
Jun 8, 2016 | 09:16 EDT
Stephens analyst Rick Patel expects 2017 to be a transitional year as Ralph Lauren's "Way Forward" plan right-sizes inventory and distribution and implements efficiency initiatives. While it'll be painful near-term on sales declines, the analyst believes these are the right moves to create a leaner operating structure and protect the company's brand. Patel sees Ralph Lauren increasing operating margins closer to its mid-teens target by 2020 and views the potential for about $9 of EPS by 2020. The analyst reiterates an Overweight rating and $110 price target on the shares as Ralph Lauren remains a margin recovery story.
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