On May 26, 2023, Ralph Lauren (NYSE:RL) received a positive rating from JP Morgan analyst Matthew Boss, who maintained the stock with an Overweight rating and raised the price target from $138 to $141. This news follows the median target of $129.93, with a high estimate of $171.00 and a low estimate of $78.00, according to 40 analysts offering price forecasts. Currently, the stock is rated as a buy, with an average rating score based on 26 buy ratings, 12 hold ratings, and 4 sell ratings. The luxury clothing designer’s stock received an upgrade from J.P. Morgan, who upgraded the shares to Overweight from Neutral, with a price target of $142. As of now, the stock is up 3.4% to $117.89. The top mutual fund holders of Ralph Lauren Corporation (RL) stock include Price (T.Rowe) Mid-Cap Value Fund, JP Morgan Mid Cap Value Fund, and Vanguard Total Stock.
RL Stock Opens at 114.51 on May 26, 2023 with Lower Volume Than Average
On May 26, 2023, the RL stock opened at 114.51, slightly higher than the previous day’s close of 114.00. The day’s range was between 111.93 and 114.51, and the volume was 451,556, which was lower than the average volume of the past three months, which stood at 946,090.
Ralph Lauren Corp (RL) Stock Performance: Analysts Predict 21.82% Increase in Next 12 Months
On May 26, 2023, the stock performance of Ralph Lauren Corp (RL) was closely watched by investors and analysts alike. According to data from CNN Money, the 12 analysts offering 12-month price forecasts for RL had a median target of 138.50, with a high estimate of 168.00 and a low estimate of 103.00. This median estimate represented a +21.82% increase from the last price of 113.69. The current consensus among 16 polled investment analysts was to hold stock in RL. While this may not be the most exciting news for investors, it does indicate that there is no major shift in sentiment towards the company. Looking at RL’s current quarter earnings per share, it was reported to be $2.13, with sales of $1.5B. However, the reporting date for this information was not yet determined at the time of writing. Overall, the outlook for RL’s stock performance seemed positive, with analysts predicting a significant increase in the stock’s value over the next 12 months.
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