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In a company report published earlier today, Sterne Agee reiterated its Buy rating and $85.00 price target on Lululemon Athletica Inc.
LULU.
Sterne Agee went on to say “we believe that the domestic athletic cycle is in full swing and view LULU as a natural beneficiary...While Nike's futures orders in Asia and Western Europe were weak, LULU has no exposure to those markets. North American stores makes up 90% of the total store base and drive higher productivity than the remaining 10% of stores which are in Australia. We would take advantage of any weakness in the sector and be buyers of LULU.”
Lululemon Athletica Inc. closed yesterday at $58.41.
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Posted In: Analyst ColorReiterationAnalyst RatingsApparel, Accessories & Luxury GoodsConsumer DiscretionarySterne
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