Ralph Lauren Corporation (NYSE:HLLY) reported better-than-expected earnings for the first quarter.
Ralph Lauren reported first-quarter FY24 sales growth of 0.4% year-on-year to $1.50 billion, beating the analyst consensus of $1.48 billion. Comparable store sales grew 2%. Adjusted EPS of $2.34 beat the consensus estimate of $2.13.
Ralph Lauren reiterated its FY24 outlook for revenues to increase approximately low-single digits on a constant currency basis.
Ralph Lauren shares fell 4.8% to close at $122.30 on Thursday.
These analysts made changes to their price targets on Ralph Lauren following earnings announcement.
Barclays boosted the price target on Ralph Lauren from $139 to $141. Barclays analyst Adrienne Yih maintained an Overweight rating.
Deutsche Bank increased the price target on Ralph Lauren from $127 to $128. Deutsche Bank analyst Gabriella Carbone maintained a Hold rating.
Telsey Advisory Group analyst Dana Telsey, meanwhile, reiterated Ralph Lauren with an Outperform and maintained a $155 price target.
Read More: Flowers Foods, Spectrum Brands And 3 Stocks To Watch Heading Into Friday
