Jefferies Lifts Estimates/Price Target on Lululemon (LULU), But Keeps Hold Rating.

Jefferies raised its estimates and price target on Lululemon Athletica Inc. (NASDAQ: LULU) from $54 to $65 but kept its Hold rating following ICR.

The firm comments, "We are recalibrating thoughts and expectations following the ICR conference last week. Judging by the reaction to various pre-announcements and presentations last week, we think this is a group that investors want to own. As such, we see upward multiple bias as the market becomes more risk-tolerant."

The firm raised EPS estimates for the current qtr from $0.43 to $0.49, for the year from $1.18 to $1.26 and next year from $1.54 to $1.63.

For an analyst ratings summary and ratings history on Lululemon Athletica Inc. click here. For more ratings news on Lululemon Athletica Inc. click here.

Shares of Lululemon Athletica Inc. closed at $61.96 yesterday.

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