These Analysts Boost Price Targets On Lululemon After Upbeat Q2 Results, Shares Jump

Lululemon Athletica Inc. (NASDAQ:LULU) reported better-than-expected results for its second quarter and boosted its annual projections.

For the full fiscal year, Lululemon sees revenue hitting $7.865 billion to $7.940 billion, which represents a three-year compounded annual growth rate of 26%. The Street estimate for revenue is $7.69 billion. Full-year earnings per share are estimated to be $9.75 to $9.90 versus a Street estimate of $9.44.

Lululemon shares rose 9.7% to $322.99 in pre-market trading.

Several analysts made changes to their price targets on Lululemon today.

Keybanc boosted the price target on the stock from $350 to $375. Keybanc analyst Noah Zatzkin maintained an Overweight rating on the stock.
JP Morgan increased price target on the stock from $382 to $396. JP Morgan analyst Matthew Boss maintained Lululemon with an Overweight.
Piper Sandler raised the price target on the stock from $310 to $320. Piper Sandler analyst Abbie Zvejnieks maintained the stock with a Neutral.
UBS increased the price target on the stock from $296 to $333. UBS analyst Jay Sole maintained the stock with a Neutral rating.
Morgan Stanley boosted Lululemon’s price target from $315 to $343. Morgan Stanley analyst Alex Straton maintained an Overweight rating on the stock.

LULULululemon Athletica Inc

$161.090.74%

Overview

Market News and Data brought to you by Benzinga APIs

To add Benzinga News as your preferred source on Google, click here.