** 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
(Reporting by Ateev Bhandari in Bengaluru)
((Ateev.Bhandari@thomsonreuters.com;))
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