We recently published 12 Stocks on Jim Cramer’s Radar. Ralph Lauren Corporation (NYSE:RL) is one of the stocks on Jim Cramer’s radar.
Ralph Lauren Corporation (NYSE:RL) is a well-known American apparel firm known for its brands such as Polo and Purple Label. The shares are up by 27.5% over the past year but are down by 5.4% year-to-date. Jefferies cut the firm’s share price target to $410 from $425 and kept a Buy rating on the shares in February. The results came after Ralph Lauren Corporation (NYSE:RL) reported its earnings for the fiscal third quarter. However, UBS raised the share price target to $477 from $474 and kept a Buy rating. Cramer also discussed Ralph Lauren Corporation (NYSE:RL) following its earnings report:
“Patrice Louvet again doing a remarkable job. My theme here today is there are stocks that are down huge that shouldn’t be down. Ralph Lauren, we wanted the comps numbers at seven, they came in at nine. We were looking at a number frankly for revenues, just actually much stronger than revenues. Very positive outlook. China up 30%. There’s a lot of things to really love about what Patrice is doing. . .but, look David they have the strategy of going into the top 30 cities and taking a lot of share. 250 stores soon. This is one that you have to say, look, someone wants out, they haven’t really done the work. Patrice Louvet is really smart. This has happened several times that the stock has opened down big. You buy small here and then as it goes lower, perhaps down to 28-30, you pick up a little bit more in pyramid style. This is how you buy this thing. The people are without a doubt so scared David, that I just think you go after the great ones that reported great numbers.”
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Disclosure: None. This article is originally published at Insider Monkey.
