Janney Montgomery Scott Maintains a 'Buy' on Lululemon Athletic (LULU); Raising PT and Estimates after Q2 Release
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Get Alerts LULU Hot Sheet
Price: $78.46 --0%
Rating Summary:
12 Buy, 10 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Rating Summary:
12 Buy, 10 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Trade LULU Now!
Janney Montgomery Scott maintains a 'Buy' on Lululemon Athletica Inc. (NASDAQ: LULU) price target of $80.00 (from $74.00).
Analyst, Adrienne Tennant, said, "LULU reported 2Q12 EPS of $0.31 (excluding an $0.08 beneficial tax rate adjustment) versus management guidance of $0.28 to $0.30 and the Street at $0.31. On a GAAP basis, EPS was $0.39...The company guided 3Q12 comparable store sales in the positive low- to mid-teens on a constant dollar basis and commented that while August was “strong,” they are guiding conservatively, as they expect very controlled October inventory levels."
"We are raising our FY12 and FY13 EPS estimates to $1.81 (including the 2Q12 tax adjustment) from $1.58 (versus consensus of $1.63) and to $2.15 from $1.99 (versus consensus of $2.06), respectively. Our estimates are increased almost entirely due to the permanent, lower go-forward tax rate for the company."
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 $68.60 yesterday, with a 52 week range of $41.70-$81.09.
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Analyst, Adrienne Tennant, said, "LULU reported 2Q12 EPS of $0.31 (excluding an $0.08 beneficial tax rate adjustment) versus management guidance of $0.28 to $0.30 and the Street at $0.31. On a GAAP basis, EPS was $0.39...The company guided 3Q12 comparable store sales in the positive low- to mid-teens on a constant dollar basis and commented that while August was “strong,” they are guiding conservatively, as they expect very controlled October inventory levels."
"We are raising our FY12 and FY13 EPS estimates to $1.81 (including the 2Q12 tax adjustment) from $1.58 (versus consensus of $1.63) and to $2.15 from $1.99 (versus consensus of $2.06), respectively. Our estimates are increased almost entirely due to the permanent, lower go-forward tax rate for the company."
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 $68.60 yesterday, with a 52 week range of $41.70-$81.09.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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