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UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on Lululemon Athletica

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In a report published Friday, Credit Suisse Group reiterated its Outperform rating on Lululemon Athletica (NASDAQ: LULU), and raised its price target from $84.00 to $86.00.

Credit Suisse noted, “Strong 3Q results (18% comps, $316.5M, $0.39 vs. Street's 14%, $305.1M, $0.37) indicates core demand remains healthy. Early 4Q execution issues look temporary and resolved, suggesting guidance for high-single-digit comps in 4Q will prove conservative. We continue to expect LULU to be able to drive double-digit comps sustainably (largely on maturation of newer stores) and drive OM expansion with leverage of aggressive front-end loaded international, eCommerce, and IT investments. As a result, we reiterate our Outperform rating, and raise our TP to $86 from $84.”

Lululemon Athletica closed on Thursday at $73.55.

Latest Ratings for LULU

DateFirmActionFromTo
Nov 2014Sterne AgeeDowngradesNeutralUnderperform
Nov 2014FBR CapitalInitiates Coverage onMarket Perform
Oct 2014Brean CapitalInitiates Coverage onBuy

View More Analyst Ratings for LULU
View the Latest Analyst Ratings

Posted-In: Credit Suisse GroupAnalyst Color Price Target Analyst Ratings

 

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