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

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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.

Latest Ratings for LULU

DateFirmActionFromTo
Sep 2014CitigroupMaintainsNeutral
Sep 2014Deutsche BankMaintainsHold
Sep 2014JP MorganMaintainsNeutral

View More Analyst Ratings for LULU
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Upgrades Analyst Ratings

 

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