Nomura Securities Maintains a 'Neutral' on Lululemon Athletica (LULU); Raising Numbers on Strong Start to 2012

Nomura Securities maintains a 'Neutral' on Lululemon Athletica Inc. (NASDAQ: LULU) price target raised from $49 to $55.

Analyst, Paul Lejuez, said, "Although F12 guidance fell short of consensus, the continued strength of the top-line seems to point to upside to this guidance. We are raising our F12E from $1.61 to $1.70 vs. guidance of $1.50- $1.57. We are also introducing our F13E of $2.13. LULU is driving impressive sales results with better inventory levels, and this speaks to the traction the brand is gaining in the US as well as its continued strong performance in Canada. Our new PT of $55 is based on ~17.5x our F12E EBITDA. With the stock currently trading at 45x our F12E EPS, we believe that the stock has no room for error."

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 $75.95 yesterday.

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