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Topeka Starts lululemon at Buy, $70 Target, Says 'Remains Bright Spot' in Specialty Retail

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Topeka Capital's Dorothy Lakner initiated coverage on shares of lululemon athletica (NASDAQ: LULU) with a Buy rating and $70 price target Thursday afternoon.

Lakner noted recent "product problems and management changes this year," but believes lululemon "remains a bright spot of growth in specialty retailing." The analyst believes lululemon targeting an "underserved women's athletic market is a positive, and while competition is increasing, LULU still has a loyal customer base for its stylish, premium-priced product, a strong company culture and is one of few specialty retailers growing at 15%-20%."

With shares of lululemon trading at $58.77 in Thursday's post-market session, the Topeka analyst's new price target implies potential upside of about 19 percent.

Latest Ratings for LULU

DateFirmActionFromTo
Mar 2015Goldman SachsDowngradesNeutralSell
Feb 2015Guggenheim SecuritiesInitiates Coverage on
Jan 2015JP MorganUpgradesNeutralOverweight

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