Lululemon (LULU) CFO News a 'Modest Positive', Wedbush Says

Wedbush analyst Morry Brown said Lululemon Athletica Inc. (NASDAQ: LULU) announcement of Stuart Haselden as the new CFO of the company is a "modest positive."

Brown notes the appointment has been long-anticipated and said Mr. Haselden has a strong resume. Haselden's tenure at J. Crew and Saks provides a strong base of experience and should be well-received by investors given recent complaints about the length of the CFO search, the analyst commented.

The firm maintained an Outperform rating and price target of $59 on Lululemon stock. Brown said the stock is not getting credit for its brand equity and internationally growth opportunity.

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 $57.65 yesterday.

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