KeyBanc Initiates Coverage on lululemon athletica (LULU) with a Hold
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KeyBanc initiates coverage on lululemon athletica (Nasdaq: LULU) with a Hold.
KeyBanc analyst says, "We are enthusiastic supporters of the LULU brand and view the shares as one of the more compelling long-term growth vehicles within the specialty retail industry. We believe the LULU brand carries with it sustainable competitive advantages and long-term growth opportunities ranging anywhere from 15-20%, likely at the high end of that range. That being said, we are initiating coverage with a HOLD rating given what we believe is limited near-term upside given that the shares trade at roughly 23x our 2009 estimate of $0.53 on a P/E basis, slightly above what we view as the Company's most likely long-term revenue growth rate of 20%. We would look to be more constructive on the shares in the event of a pull back."
To see more analyst ratings on LULU Click Here.
lululemon athletica inc. is a designer and retailer of technical athletic apparel primarily in North America. Its yoga-inspired apparel is marketed under the lululemon athletica brand name.
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