BUZZ-J.P. Morgan raises Ralph Lauren PT on positive management comments

J.P. Morgan raises PT on apparel company Ralph Lauren RL.N to $342 from $285, citing constructive management comments

New PT around 19% upside to stock's last close

CEO Patrice Louvet said during a meeting with the brokerage, "We have not peaked as a brand"

JPM says RL's planned expansion of its marketing budget to 7% of sales in FY25 from 4% in FY18 to fuel brand strength

Thirteen of 20 brokerages rate stock "buy" or higher, 5 "hold", and 2 "sell"; median PT is $310 - data compiled by LSEG

Stock is up 23% YTD, including session moves; it rose over 60% in 2024