Market Overview

UPDATE: Sterne Agee Upgrades Lululemon Athletica to Buy Following CEO/CFO Meetings

Related LULU
UPDATE: D.A. Davidson Downgrades Lululemon, See Lofty Earnings Expectations
Athleisure Wear Fad A Rapidly Growing, But Crowded Space
Lululemon Profit Plunges, CFO to Retire (Fox Business)

In a report published Wednesday, Sterne Agee analyst Sam Poser upgraded the rating on Lululemon Athletica (NASDAQ: LULU) from Neutral to Buy, and named a $90.00 price target.

In the report, Poser noted, “Following meetings with the CEO and CFO we would be buyers of LULU. The transparent pant problem is a serious growing pain, but should not cause long-term brand damage. There will be some new Luon pants delivered in June, but it will take to August to completely catch up. Lulu's relationship with its guests and its product innovation bear equal weight. 25%+ EBIT and long-term double-digit revenue growth appear sustainable. Raising '13/'14 EPS estimates from $1.89/$2.57 to $1.98/$2.71.”

Lululemon Athletica closed on Tuesday at $74.79.

Posted-In: Sterne AgeeAnalyst Color Upgrades Analyst Ratings

 

Related Articles (LULU)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters