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Ralph Lauren to rally 18%, Goldman Sachs says

Ralph Lauren Polo shirts are on display in a store window in New York.
Daniel Acker | Bloomberg | Getty Images

Investors should buy Ralph Lauren shares on the prospect financial results will top expectations in the coming year, according to Goldman Sachs, which reiterated its buy rating and added the company to its Americas conviction buy list.

"As CEO Stefan Larsson approaches his 1-year anniversary at the helm, we believe the foundational elements for a successful turnaround are in place," Goldman's Lindsay Drucker Mann wrote in a note to clients Thursday.

"In our view, sales targets look reasonable and margin targets look beatable."