Jefferies Notes Upbeat Tone from Lululemon Athletica (LULU) But Remains on Sidelines
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Rating Summary:
32 Buy, 11 Hold, 3 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 9 | Down: 8 | New: 10
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Jefferies analyst Daniel Binder reiterated a Hold and $65 price target on Lululemon Athletica Inc. (NASDAQ: LULU) following the Jefferies 2015 Global Consumer Conference.
Binder commented, "Last night, we hosted an investor dinner with LULU CFO Stuart Haselden in Nantucket. The tone of the dinner was upbeat, with a focus on the improvements in trend the company is seeing from the recent enhancements to product assortment, with more to come in the back half of the year. While we expect ongoing top-line momentum to continue, the inventory build up from the West Coast port delays and full valuation keeps us Hold rated for now."
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 $66.34 yesterday.
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