Auriga Starts Lululemon Athletica Inc. (LULU) at Buy
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Price: $79.04 --0%
Rating Summary:
12 Buy, 10 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 11 | New: 13
Rating Summary:
12 Buy, 10 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 11 | New: 13
Trade LULU Now!
Auriga initiates coverage on Lululemon Athletica Inc. (NASDAQ: LULU) with a Buy. PT $68.00.
The firm comments, "lululemon athletica is a manufacturer and retailer of premium lifestyle apparel, with a focus on yoga and run-inspired clothing. We believe LULU is positioned to capture discretionary dollar spend as consumers shift focus to healthier lifestyles. In the two years since the major economic instability in 2H08-1H09, we believe LULU proved itself a viable competitor to other major sporting goods manufacturers by reporting double-digit comps in every quarter since 3Q09. Our Buy rating is predicated on our belief that LULU still has the fortunate problem of chasing product to meet high levels of demand. In addition, we believe LULU is still early on the growth curve with opportunity to grow by opening U.S. lululemon stores, ivivva stores in Canada and the U.S. and store openings in international markets. Our $68 PT assumes a 47x multiple on our 2012 EPS estimate."
For more ratings news on Lululemon Athletica Inc. click here and for the rating history of Lululemon Athletica Inc. click here.
Shares of Lululemon Athletica Inc. closed at $59.01 yesterday, with a 52 week range of $41.51-$123.84.
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The firm comments, "lululemon athletica is a manufacturer and retailer of premium lifestyle apparel, with a focus on yoga and run-inspired clothing. We believe LULU is positioned to capture discretionary dollar spend as consumers shift focus to healthier lifestyles. In the two years since the major economic instability in 2H08-1H09, we believe LULU proved itself a viable competitor to other major sporting goods manufacturers by reporting double-digit comps in every quarter since 3Q09. Our Buy rating is predicated on our belief that LULU still has the fortunate problem of chasing product to meet high levels of demand. In addition, we believe LULU is still early on the growth curve with opportunity to grow by opening U.S. lululemon stores, ivivva stores in Canada and the U.S. and store openings in international markets. Our $68 PT assumes a 47x multiple on our 2012 EPS estimate."
For more ratings news on Lululemon Athletica Inc. click here and for the rating history of Lululemon Athletica Inc. click here.
Shares of Lululemon Athletica Inc. closed at $59.01 yesterday, with a 52 week range of $41.51-$123.84.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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