Cowen upgrades Ralph Lauren, says stock could be a reopening winner after cutting costs

A shift back to more formal clothes should be an opportunity for Ralph Lauren to show off a leaner, more efficient business model, according to equity research firm Cowen. Analyst John Kernan upgraded the stock to outperform from market perform on Wednesday, saying in a note to clients that demand appeared to be strengthening for the luxury brand and highlighting the company's reduction in selling, general and administrative costs.