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Fly News Breaks for May 15, 2019
RL
May 15, 2019 | 07:40 EDT
RBC Capital analyst Kate Fitzsimmons lowered her price target on Ralph Lauren to $135 after its Q4 results to reflect the weaker North America sales but also kept her Outperform rating, saying the earnings and revenue beat in the quarter affirm that the efforts to diversify the company's business overseas are "taking hold". The analyst also believes that Ralph Lauren's FY20 gross margin outlook was deliberately conservative and expects the company to make progress toward its mid-teen margin target as its SG&A spending gathers leverage.
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