JPMorgan Raises Ralph Lauren (RL) Price Target, Keeps Overweight Rating

On Thursday, May 22, JPMorgan analyst Matthew Boss kept an “Overweight” rating and raised the price target for Ralph Lauren Corporation (NYSE:RL) to $355 from $342.

According to Boss, the company has not seen any slowdown globally through May. Ralph Lauren Corporation (NYSE:RL) has also reported no cancellations from wholesale partners so far.

Despite this, the company’s forecast for the second half of fiscal 2026 is conservative. Ralph Lauren Corporation (NYSE:RL) expects revenue growth to moderate by about 10 percentage points. North America is projected to experience a mid-single-digit decline, which contrasts with the earlier positive growth. Europe is expected to grow at a low-single-digit rate, down from the mid-teens growth experienced in the previous quarters.

Regarding earnings, Boss pointed out that the management’s preliminary guidance for fiscal 2026 includes a headwind of more than 100 basis points from tariffs. However, Ralph Lauren Corporation (NYSE:RL) is exploring potential actions to offset this impact, which could lead to better results than the current guidance. Boss also noted a potential upside scenario where the stock’s value could go above $400.

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Disclosure: None.