Lululemon (LULU) Buy Reiterated at Nomura Securities Post Q4
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Price: $347.51 +0.77%
Rating Summary:
32 Buy, 11 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Rating Summary:
32 Buy, 11 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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Nomura Securities analyst Robert Drbull reiterated a Buy rating and $70 price target on Lululemon Athletica Inc. (NASDAQ: LULU) while it lowered estimates.
Drbull "Lululemon reported a 2% constant currency comp sales decline vs our estimate of a 5% decline. A decline in comp sales was expected given the difficult operating environment in 4Q13. We believe that the new management regime intends to focus sharply on expanding the brand’s international presence, with plans to accelerate the international store rollout over the next few years. We expect an additional ~$18 million in capital expenditures in 2014 and remain confident in the brand’s strength and global opportunity, which we expect will materialize over time."
The firm cuts FY14E EPS from $2.25 to $1.85; FY15E EPS from $2.60 to $2.25.
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 $51.20 yesterday.
Drbull "Lululemon reported a 2% constant currency comp sales decline vs our estimate of a 5% decline. A decline in comp sales was expected given the difficult operating environment in 4Q13. We believe that the new management regime intends to focus sharply on expanding the brand’s international presence, with plans to accelerate the international store rollout over the next few years. We expect an additional ~$18 million in capital expenditures in 2014 and remain confident in the brand’s strength and global opportunity, which we expect will materialize over time."
The firm cuts FY14E EPS from $2.25 to $1.85; FY15E EPS from $2.60 to $2.25.
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 $51.20 yesterday.
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