Oppenheimer Reiterates Outperform on lululemon athletica (LULU) Following 2Q

September 2, 2016 9:25 AM EDT
Get Alerts LULU Hot Sheet
Price: $56.46 -0.95%

Rating Summary:
    23 Buy, 12 Hold, 8 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 26 | Down: 29 | New: 38
Trade LULU Now!
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

Oppenheimer reiterated an Outperform rating and $80.00 price target on Lululemon Athletica Inc. (NASDAQ: LULU) following the company's 2Q earnings report.

Analyst Anna Andreeva commented, "LULU's supply chain/efficiency initiatives finally bearing fruit with 2Q16 gross margins up 260 bps (beating guidance by 140 bps), first increase since 1Q14, paving the way for first year of much anticipated margin expansion in five years. Unlike most of our names, LULU's 2Q16 comps didn't improve vs. 1Q16 at just in line driven by continued traffic choppiness (decelerated vs. 1Q16) and offset by higher AUR/UPTs as product from new team is resonating (women's tops up LSD last two quarters). With shares down 8% AMC, we think some multiple reset necessary; with MSD comps, 10-12% sq. ft. growth and inventories in great shape (down 15%/sq. ft.), LULU still our favorite athletic play, with earnings growth accelerating into 2H16/'17."

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 $76.66 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View

Related Entities


Add Your Comment