Ralph Lauren will see shares sail higher as affluent consumers continue to splurge on luxury goods in spite of macroeconomic turbulence, according to Citi. The bank upgraded shares to buy from neutral. It also raised its price target on shares to $400 from $360, suggesting 18% upside from Monday’s close. “We have increased confidence that the momentum in the brand can continue,” analyst Paul Lejuez said in a note to clients. “Despite a choppy macro backdrop, RL’s higher income consumers should help them more easily navigate current macro volatility.” Ralph Lauren shares have struggled this year, losing more than 4% in that time. However, the stock is up more than 43% over the past 12 months as the the “K-shaped” economic recovery continues. The trend reflects wealthier consumers benefiting the most while lower-income consumers are forced to tighten their purse strings. “We believe the YTD stock decline (and market uncertainty) presents an attractive buying opportunity for this best-in-class winner in the retail apparel landscape,” Citi wrote. Lejuez added that marketing and sponsorship efforts will boost the stock going forward. Earlier this year, the company supplied Team USA’s Opening and Closing Ceremony outfits for the 2026 Milan Cortina Olympics. The firm also renewed for another six years its partnership with the United States Tennis Association, ensuring the Polo pony will be visible in the U.S. Open. Ralph Lauren is poised to beat the Street’s expectations on its fourth-quarter results, despite its conservative outlook, according to Citi. The bank expects earnings of $2.77 per share versus a consensus of $2.48 and guidance of around $2.35 to $2.45. The upgrade puts Citi in line with the consensus on Wall Street. Of the 20 analysts covering the stock, 16 have a buy or strong buy rating on Ralph Lauren, LSEG data shows.