Janney Montgomery Scott maintains a 'Buy' on Lululemon Athletica (LULU); Tax-Adjusted In-line Q2

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Janney Montgomery Scott maintains a 'Buy' on Lululemon Athletica Inc. (NASDAQ: LULU) price target of $74.00.

Analyst, Adrienne Tennant, said, "Tax-adjusted inline 2Q12; we calculate an $0.08 tax benefit to 2Q12...Solid 3Q12 comp guidance; Guides 3Q12 EPS slightly below Street, excluding $0.04 positive impact of updated tax rate; without the change in tax rate, we
calculate guidance of $0.30 to $0.32 versus street at $0.33...Raises FY12 guidance, primarily due to lower tax rate; implies 4Q12 EPS of $0.64 to $0.67 (excluding $0.07 tax rate update) versus street at $0.67."

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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