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Goldman Sachs Boosts Price Target for Polo Ralph Lauren (RL)

By Dividend.com Staff
November 4th, 2009

goldman-sachs-boosts-price-target-for-polo-ralph-lauren-rl

Apparel maker Polo Ralph Lauren Corporation (RL) said its earnings estimates and price target raised on Wednesday by analysts at Goldman Sachs.

The analyst raised its earnings estimates for RL through 2011, and also set a new $92 price target on the stock. Polo shares had closed at $78.47 on Tuesday.

Goldman current rates the stock as a “Buy.”

Polo Ralph Lauren sahres fell 56 cents, or -0.6% in morning trading Wednesday.

The Bottom Line
We recently removed shares of RL from our “recommended” list back on Oct.1, when the stock was trading at $76.62. The company has a .25% dividend yield, based on last night’s closing stock price of $78.47. The stock has technical support in the $70-$71 price area. If the shares can firm up, we see overhead resistance around the $80 price level. We would remain on the sidelines for now.

Polo Ralph Lauren Corporation (RL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.