Ralph Lauren Upgraded to “Overweight” at Piper Jaffray; Sees 18% Upside (RL)


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Apparel maker Ralph Lauren Corp. ( RL ) on Wednesday caught a big upgrade from analysts at Piper Jaffray.

The firm boosted its rating on RL from "Neutral" to "Overweight" while lifting its price target from $158 to $182. That new target suggests an 18% upside to the stock's Tuesday closing price of $154.22.

Piper Jaffray noted the company's refined classics fashion should attract customers in coming quarters.

Ralph Lauren shares were mostly flat in premarket trading Wednesday.

The Bottom Line
Shares of Ralph Lauren Corp ( RL ) have a 1.04% dividend yield, based on last night's closing stock price of $154.22. The stock has technical support in the $148-$150 price area. If the shares can firm up, we see overhead resistance around the $160-$163 price levels.

Ralph Lauren Corp. ( RL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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