Goldman Sachs Ratchets Price Target On Lululemon (LULU) Higher

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Goldman Sachs boosted their 6-month price target on Lululemon Athletica Inc. (NASDAQ: LULU) from $76 to $85, while reiterating their Buy rating, following better-than-expected Q4 results.

The quarter was strong as expected, the firm notes, with further upside to the January pre-announcement and continued momentum into Spring with comps sales expected to be up in the low-20% range.

"The news reinforced our confidence in revenue-driven upside continuing in 2012," the analyst said. "Bigger picture, we continue to see LULU as one of the most compelling growth stories across retail," they continued. Goldman cited brand momentum, sizeable runway to expand, competitive moat, and a strong management team.

For an analyst ratings summary and ratings history on Lululemon Athletica Inc. click here. For more ratings news on Lululemon Athletica Inc. click here.

Shares of Lululemon Athletica Inc. closed at $75.95 yesterday, with a 52 week range of $41.70-$123.84.

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