Jefferies Downgrades Lululemon Athletica Inc. (LULU) to Hold; Thesis has Played Out
- Alibaba (BABA) Tops Q3 EPS by 17c, Revenues Rise 54%
- DuPont (DD) Tops Q4 EPS by 9c; Sees Merger Closing in First Half
- Barclays Downgrades Apple (AAPL) to Equalweight, Concerned India/China Will not Emerge As Growth Catalysts
- WestRock (WRK) to Acquire Multi Packaging Solutions (MPSX) for $18 per share
- Yahoo! (YHOO) Tops Q4 EPS by 4c; Sees Verizon Deal Closing in Q2, Not Q1
Get inside Wall Street with StreetInsider Premium. Claim your 2-week 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 Downgrades NantKwest (NK) to Hold
- Qualcomm (QCOM) PT Lowered to $58 at UBS
- Halliburton (HAL) PT Raised to $70 at UBS
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!