Breaking Finance News

TRADE ALERT- UBS Bullish on Ralph Lauren (RL)

According to analysts at UBS, Ralph Lauren (NYSE: RL) is a buy. It said that that the company will likely report an earnings beat and raise its outlook for fiscal year 2014. It identified the stock as a “most-preferred stock story” and keeps a “Buy” rating on shares.

In the past six months the stock is up 8 percent to $188.30. After reaching an all-time high of $191.58, the stock staged a severe selloff of nearly 14 percent, reaching an intraday low of $165.34. Since then, the stock has staged a rally with an unwinding of its RSI which sent the stock to current levels. It’s again challenging the $191.58 level. If it fails move higher, watch for a double top that could fuel another massive selloff.

The $17 billion company trades an average of 617,000 shares per day. Ralph Lauren Corporation engages in the design, marketing, and distribution of lifestyle products. It offers apparel products, including a range of men’s, women’s, and children’s clothing; accessories comprising footwear, eyewear, watches, fine jewelry, hats, belts, and leather goods, such as handbags and luggage; home products consisting of bedding and bath products, furniture, fabric and wallpaper, paint, tabletop and giftware; and fragrance products.

[stock-tools exchange="NYSE" symbol="RL" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

New to Breaking Finance News? Read about our format here.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with's FREE daily email newsletter.