Lululemon (LULU): Investors Fear Core P&L Has Not Inflected, Says Deutsche Bank
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Rating Summary:
32 Buy, 11 Hold, 3 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Deutsche Bank reiterated a Hold rating on Lululemon Athletica Inc. (NASDAQ: LULU) with a price target of $55. The stock declined after its analyst day meeting. Analyst Dave Weiner said investors were left feeling core P&L trends have not inflected.
"Most importantly, management was unwilling to quantify its medium- or long-term P&L growth expectations. In a time of increasing competition and a difficult consumer environment, the market was looking for a sense of security from the company about how successful it feels it can be globally (and to what degree it has visibility in to that). Even with regard to short-term trends, mgmt. didn’t offer up an update on the current quarter, leaving many at the meeting (we believe) with the feeling that core P&L trends have not inflected," said Weiner.
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 $51.71 yesterday.
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