BTIG analyst Janine Stichter raised the firm’s price target on Lululemon (LULU) to $430 from $360 and keeps a Buy rating on the shares. The company’s Q3 earnings, revenue, and gross margins topped estimates and its FY24 guidance was raised, with Americas business remaining stable and markdowns remaining flat, the analyst tells investors in a research note. With women’s business re-accelerating in Q3, leggings sales on a more positive trajectory, and easing compares around the corner, it is increasingly appearing that the major leg down in trends feared among investors may not materialize, the firm added.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on LULU:
- Lululemon price target raised to $440 from $380 at Baird
- Lululemon price target raised to $360 from $325 at Bernstein
- Lululemon price target raised to $414 from $345 at Morgan Stanley
- Lululemon price target raised to $340 from $260 at Piper Sandler
- Lululemon price target raised to $360 from $315 at UBS
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
