Citi analyst Paul Lejuez raised the firm’s price target on Lululemon (LULU) to $380 from $270 and keeps a Neutral rating on the shares. The company’s Q3 sales and earnings beat on stronger international sales and gross margin, the analyst tells investors in a research note. The firm says that while the Americas comp of down 2% was still weak, management is seeing the customer respond to newness in women’s, pointing to Q1 of 2025 for an expected inflection in the U.S.
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Read More on LULU:
- Lululemon price target raised to $400 from $350 at KeyBanc
- Lululemon Reports Strong Q3 Growth and Expansion
- Closing Bell Movers: Lululemon jumps 9% after beat and raise
- LULU Earnings: Lululemon Athletica Stock Jumps 10% Higher on Strong Financial Results
- Lululemon up 9.5% at $377.50 after Q3 earnings beat, FY24 guidance raise
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