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Fly News Breaks for June 8, 2018
RL
Jun 8, 2018 | 07:37 EDT
Credit Suisse analyst Michael Binetti reiterated an Outperform rating and $153 price target on Ralph Lauren, telling investors in a research note that he was "impressed" with the company's Analyst Day. While he says targets leave room for a "wide" FY23 EPS range -- $10-$14 -- he thinks the most likely outcome is $10-$12, or a 11%-15% five-year CAGR. Binetti thinks Ralph Lauren gave a "credible" plan that balanced the last innings of a pullback with new initiatives, and believes the details offered several sources of conservatism/upside.
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