Auriga Reiterates a 'Buy' on Lululemon Athletica (LULU); Debut for Ivivva Athletica in the US?

Auriga reiterates a 'Buy' on Lululemon Athletica Inc. (NASDAQ: LULU) price target of $68.00.

Auriga analyst says, "We believe LULU could announce that ivivva.com is going live for the U.S. consumer as early as this week. Ivivva.com was launched in Canada in mid-August given the success of the three stores and one showroom that operate in Canada. We believe LULU uses ecommerce as a tool to analyze buying trends by region and could use the ecommerce launch for ivivva to map out future store openings in both Canada and the U.S. At this time, we believe current 2011 revenue guidance of $930-$950mm does not incorporate any ivivva revenue from the U.S. While we believe the initial contribution likely will be small, momentum could build with ivivva in the U.S. and the brand could be a contributor to earnings in 2012."

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 $48.69 yesterday.

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