Sterne Agee CRT analyst Sam Poser said they would buy Lululemon Athletica Inc. (NASDAQ: LULU) on any weakness tied to Chip Wilson's 424(b)(3) filing to liquidate 20.1M shares (14% of the total 142.3M diluted shares outstanding) at $60.95/share, his entire stock in the company.

Poser continues to rate LULU a Buy for the following reasons:

• The divestiture finally eliminates Mr. Wilson's disruptive influence over the company (this is very good news)
• This filing does absolutely nothing to change our thesis that the initiatives to improve the product and in-store experience are underway and will likely reestablish LULU as the pinnacle of the active-wear space and the necessary investments are being made in 2015 to support the global growth of the brand
• Any weakness in the stock this morning represents a buying 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 $66.77 yesterday.