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UPDATE: Oppenheimer Upgrades lululemon to Outperform, Raises Target to $63

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CLSA Downgrades Lululemon Athletica To Underperform
Three winners and one loser seen in specialty retail by RBC Capital (Seeking Alpha)

Anna Andreeva, analyst at Oppenheimer, on Tuesday upgraded luluemon athletica inc. (NASDAQ: LULU) from Market Perform to Outperform and raised the price target from $53 to $63.

Andreeva highlighted her belief there will be levers which will help push profit and sales growth higher, "driven by double-digit square foot growth, double-digit growth online, and margin recovery over time." She noted US penetration of 55 percent and said international is "in early innings."

The Oppenheimer analyst sees some promise in a new management team at lululemon, suggesting there is potentially now a "transition story" at hand.

Shares are up 2.3 percent to $52.01 on the session as momentum from the previous two weeks continues. Shares have been trending up towards the massive downward earnings gap created in the middle of December.

Latest Ratings for LULU

DateFirmActionFromTo
May 2015RBC CapitalInitiates Coverage onOutperform
Apr 2015CLSADowngradesOutperformUnderperform
Apr 2015Sterne AgeeUpgradesNeutralBuy

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Posted-In: Analyst Color News Upgrades Price Target Analyst Ratings

 

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