#3 - Ralph Lauren (NYSE:RL)
Ralph Lauren (NYSE:RL) is also on the front line of the PPE production market. The luxury clothing manufacturer is ramping up production to meet a commitment to manufacture 250,000 masks and 25,000 isolation gowns.
But like all the companies in this presentation, Ralph Lauren has a couple of catalysts that should propel the stock in the new economy. Ralph Lauren Home used the recent High Point Market to announce an exclusive agreement with Theodore Alexander. Although the debut had to be virtual, the details look promising for RL stock.
Theodore Alexander will manufacture the complete Ralph Lauren Home collection. While Theodore Alexander will be in charge of sales, distribution and manufacturing, Ralph Lauren will maintain oversight over design and marketing.
And analysts have a bullish price recommendation of over $90 on RL stock which would be an over 20% increase from the current stock price. While the stock faces some headwinds like any other retailer, it’s likely that Ralph Lauren’s core customer will be less impacted by the recent surge in unemployment. And that means the company will be well positioned to see sales increase. This may be particularly true if there is a surge in home renovation projects as the economy begins to re-open.
About Ralph Lauren
Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men's, women's, and children's clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, lighting, tabletop, kitchen linens, floor coverings, and giftware; and fragrances.
Read More - Current Price
- $181.25
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 8 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $170.50 (5.9% Downside)
