Janney Capital maintains a Neutral rating and $68.00 price target on Lululemon Athletica Inc. (NASDAQ: LULU) ahead of Q1 results. Analyst Adrienne Yih expects LULU to have an in-line quarter, with EPS estimated at $0.34 compared to Street's $0.33 estimate. LULU is scheduled to report its results on June 9th, before market opens.

Adrienne commented, "We expect LULU to report 1Q15 EPS of $0.34 (St. at $0.33) as they lap easy compares due to self-inflicted issues from LY. We believe their guidance sufficiently accounted for port & weather softness during the quarter. We remain NEUTRAL longer-term, due to: 1) potential margin pressure from shift in merchandise strategy; 2) potential deleverage on higher fixed costs; 3) threats from new entrants, 4) valuation that embeds ongoing execution. Easy compares from LY should set a beatable bar for FY15. Call on 6/9/15 at 9:00 AM ET; 877 303 3203."

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Shares of Lululemon Athletica Inc. closed at $63.80 yesterday.