KeyBanc Upgrades Lululemon Athletica Inc. (LULU) to Buy; No Underlying Demand Weakness

Intra-day, KeyBanc upgraded Lululemon Athletica Inc. (NASDAQ: LULU) from Hold to Buy with a price target of $82.00 following weakness related to its disappointing fourth quarter update.

The upgrade comes after the firm held an ICR meeting with CEO Christine Day and CFO John Currie. The firm believes that recent "weakness" is driven by a combination of self-inflected issues as well as an unusually long holiday selling season, and not indicative of any underlying demand weakness.

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. are down 5.4 percent mid-day to $68.41.

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