lululemon athletica (LULU): Skeptics Are Quieter - Wedbush
Get Alerts LULU Hot Sheet
Rating Summary:
32 Buy, 11 Hold, 3 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Wedbush analyst, Morry Brown, reiterated his Outperform on Lululemon Athletica Inc. (NASDAQ: LULU) and raised the price target to $81 after a 3Q print that should silence the skeptics.
Strong 3Q results and commentary suggest higher earnings power in 2017 and 2018, affirming his constructive thesis.
Key points include:
1) SSS trends and pricing power clearly remain on strong footing
2) gross margins gains appear more significant than previously expected through 1H17
3) SG&A is now expected to produce leverage in 2017, removing a potential earnings headwind.
The new PT of $81 is up from $70.
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 $59.84 yesterday.
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