Sterne Agee Reiterates a 'Buy' on Lululemon Athletica (LULU); Bleeding is Old News and Gap Can't Compete
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Price: $79.04 +0.74%
Rating Summary:
12 Buy, 10 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
12 Buy, 10 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Trade LULU Now!
Sterne Agee reiterates a 'Buy' on Lululemon Athletica Inc. (NASDAQ: LULU) price target of $85.00.
Analyst, Sam Poser, commented on a recent situation regarding LULU's pink garments bleeding through to other clothes in the washing machine. LULU posted a note on Facebook (Nasdaq: FB) apologizing...store associates were aware and regarded it as old news and pink garments make up less than 10% of mix. A warning sticker was also added to garments.
Separately, Poser thinks that Gap's (NYSE: GPS) Athleta concept as competition to LULU is way overblown.
All in, Poser said, "We would be buyers on weakness and in general. We do not see any inventory write downs coming. Promotional activity is low. Only issue for missing guidance would be running out of product. Company set well for long term growth."
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 $53.35 yesterday, with a 52 week range of $41.70-$81.09.
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Analyst, Sam Poser, commented on a recent situation regarding LULU's pink garments bleeding through to other clothes in the washing machine. LULU posted a note on Facebook (Nasdaq: FB) apologizing...store associates were aware and regarded it as old news and pink garments make up less than 10% of mix. A warning sticker was also added to garments.
Separately, Poser thinks that Gap's (NYSE: GPS) Athleta concept as competition to LULU is way overblown.
All in, Poser said, "We would be buyers on weakness and in general. We do not see any inventory write downs coming. Promotional activity is low. Only issue for missing guidance would be running out of product. Company set well for long term growth."
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 $53.35 yesterday, with a 52 week range of $41.70-$81.09.
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