Janney Montgomery Scott Starts Lululemon Athletica Inc. (LULU) at Neutral; Core Growth Holding, But Near-Term Expectations High

Janney Montgomery Scott initiates coverage on Lululemon Athletica Inc. (NASDAQ: LULU) with a Neutral. PT $57.00.

JMS analyst esays, "Our Neutral thesis is based on the following: 1) volatile and potentially weakening global macro backdrop creates uncertainty, 2) guidance for future quarters and 2012 may be more conservative than current EPS estimates, and 3) high investor expectations for meaningful upside to consensus estimates and expensive valuation make near-term risk/reward less attractive. We are looking for a more attractive entry point in order to become more constructive on the name as the stellar store metrics and strong, and building, brand equity makes LULU a core holding in a growth portfolio."

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 $53.89 yesterday.

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