Jefferies Downgrades Lululemon Athletica Inc. (LULU) to Hold; Thesis has Played Out
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Raises Price Target on Finisar (FNSR) to $37 Following 2Q Beat and Raise
- Jefferies Raises Price Target on Casey's General Stores (CASY) Following 2Q Earnings Report
- Jefferies Cuts Price Target on Entergy (ETR) to $72 Following Announced PPA Termination
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades, Hot Downgrades
Related EntitiesJefferies & Co, Standard & Poor's, Randal Konik
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!