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Fly News Breaks for November 14, 2019
RL
Nov 14, 2019 | 08:03 EDT
UBS analyst Jay Sole raised his price target on Ralph Lauren to $112 after its Q2 earnings beat, saying the company is "making steady progress" in growing its top-line in international markets and driving gross margin improvement. The analyst adds that the 13-times forward earnings multiple prices in a "fair amount of bad news", but keeps his Neutral rating, noting that its North America wholesale business will remain a "drag" on earnings as well as its valuation.
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