KeyBanc Capital Markets lowers its rating on Lululemon Athletica LULU from Buy to Hold and suspends its previous $84 price target on shares.
KeyBanc Capital Markets says, "While we believe that lululemon athletica inc. (LULU-NASDAQ) has one of the strongest growth prospects in our coverage universe, our more cautious view on the U.S. high-end consumer, coupled with relative valuation cause us to move to the sidelines. Since our upgrade from UNDERWEIGHT to BUY on December 2,
2011, the stock has risen 54% vs. 6% for the S&P 500 (SPX) and 14% for the S&P Retail Index (RLX), as of May 23, 2012. Our long-term, positive thesis on LULU remains unchanged.
LULU closed at $72.67 on Thursday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst ColorDowngradesPrice TargetIntraday UpdateAnalyst RatingsApparel, Accessories & Luxury GoodsConsumer DiscretionaryKeyBanc Capital Markets
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in