Goldman upgrades Ralph Lauren to 'buy', raises PT

Shares of apparel company Ralph Lauren RL.N rise 0.7% to $221.64

Goldman Sachs upgrades RL to "buy" from "neutral", raises PT to $286 from $280

Says co has more limited exposure to key near-term macro risks versus peers, including tariffs, department store slowdown, and the health of the lower-income consumer

"We believe improving execution and building momentum within the company’s brand elevation strategy is set to drive additional market share capture opportunities and margin expansion," brokerage says

Adds that pullback in valuations across the apparel sector presents a buying opportunity

Thirteen of 19 brokerages rate the stock "buy" or higher, 4 "hold" and 2 "sell"; median PT is $310 — data compiled by LSEG

RL stock down 4.5% YTD, including session moves; it rose nearly 60.2% in 2024