MKM Partners Reiterates Buy on lululemon athletica (LULU) Following Proprietary Survey
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
MKM Partners reiterated a Buy rating on Lululemon Athletica Inc. (NASDAQ: LULU), and raised the price target to $90.00 (from $82.00), following a fifth proprietary survey. According to the survey, the customer's view of merchandise remains highly positive and more favorable than in the past 1-2 years. MKM sees a potential for upside to the Street’s EPS estimate of $0.38 and MKM's above-Street estimate of $0.40, driven by upside from comps and gross margin.
Analyst Roxanne Meyer commented, "Our fifth survey of 1,000 LULU shoppers conducted during the third week of August in collaboration with Wendy Farina and the MKM Intelligence Community pointed to several key takeaways: 1) overall trends continue to reflect LULU's positive momentum from 1Q; 2) recent spending and purchasing intentions bode well for 2Q and 3Q comp gains, led by outsized strength in Canada; 3) the customer's view of merchandise remains highly positive and more favorable than in the past 1-2 years; 4) recognition of newness in tops is rising, though bottoms continue to be rated higher; and 5) a notable uptick in LULU's rankings on both quality and price/value attributes (6 and 9 pt inflection in U.S./CA since May)."
Shares of Lululemon Athletica Inc. closed at $78.19 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- M&T Bank (MTB) PT Raised to $165 at FBR Capital Following 4Q Beat
- Union Pacific (UNP) PT Raised to $102 at Stifel Following 4Q Report
- Bassett Furniture (BSET) PT Raised to $28 at Stifel Following 4Q EPS Beat
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
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!