Goldman Sachs Boosts Price Target for Polo Ralph Lauren (RL)

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Apparel maker Polo Ralph Lauren Corporation (RL) said its earnings estimates and price target raised on Wednesday by analysts at Goldman Sachs.

The analyst raised its earnings estimates for RL through 2011, and also set a new $92 price target on the stock. Polo shares had closed at $78.47 on Tuesday.

Goldman current rates the stock as a “Buy.”

Polo Ralph Lauren sahres fell 56 cents, or -0.6% in morning trading Wednesday.

The Bottom Line
We recently removed shares of RL from our “recommended” list back on Oct.1, when the stock was trading at $76.62. The company has a .25% dividend yield, based on last night’s closing stock price of $78.47. The stock has technical support in the $70-$71 price area. If the shares can firm up, we see overhead resistance around the $80 price level. We would remain on the sidelines for now.

Polo Ralph Lauren Corporation (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.