Jefferies Downgrades Lululemon Athletica Inc. (LULU) to Hold; Thesis has Played Out
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Jefferies downgraded Lululemon Athletica Inc. (NASDAQ: LULU) from Buy to Hold with a price target of $76.00 (from $80.00), saying the margin recovery thesis has played out and SSS have also improved.
Analyst Randal Konik commented, "We upgraded LULU to Buy from Hold on 1/4/16. Our thesis was based on five principal factors, which have now largely come to fruition, driving shares up 30% YTD vs the S&P 500's 7%. While we believe LULU still has ample oppty to grow its top-line and expand op margins, we believe this is now largely factored into the stock. On top of this, we believe the athleisure trend is now starting to peak. Downgrade to Hold, PT to $76."
Shares of Lululemon Athletica Inc. closed at $68.23 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades, Hot Downgrades
Related EntitiesJefferies & Co, Standard & Poor's, Randal Konik
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