UPDATE - Barclays Upgraded Lululemon Athletica (LULU) to Overweight; 3Q 2011 Earnings Review
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Price: $78.89 -0.19%
Rating Summary:
12 Buy, 10 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
12 Buy, 10 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade LULU Now!
UPDATE - Barclays upgraded Lululemon Athletica Inc. (NASDAQ: LULU) from Equalweight to Overweight, maintains price target of $58.00.
Barclays analyst said, "While we admit it is not generally a good thing when management of a high multiple company needs to explain why they missed the top line and why inventories are not a problem, we think in this case it is a buying opportunity and we are upgrading our rating on LULU to Overweight and reiterating our price target. The key points behind our upgrade are 1) Canada is not an issue, 2) new store productivity remains strong, 3) inventory is more closely aligned with sales than it appears, and 4) recent underperformance has created an attractive entry point."
"We are maintaining our 4Q EPS estimate of $0.43, raising FY 2011 to $1.18 from $1.16, and maintaining FY 2012 at $1.45."
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Barclays analyst said, "While we admit it is not generally a good thing when management of a high multiple company needs to explain why they missed the top line and why inventories are not a problem, we think in this case it is a buying opportunity and we are upgrading our rating on LULU to Overweight and reiterating our price target. The key points behind our upgrade are 1) Canada is not an issue, 2) new store productivity remains strong, 3) inventory is more closely aligned with sales than it appears, and 4) recent underperformance has created an attractive entry point."
"We are maintaining our 4Q EPS estimate of $0.43, raising FY 2011 to $1.18 from $1.16, and maintaining FY 2012 at $1.45."
To see more ratings on LULU, Click Here
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