Wedbush analyst Morry Brown added Lululemon Athletica Inc. (NASDAQ: LULU) to its Best Ideas List, while reiterating an Outperform rating and price target of $78.

"We maintain our OUTPERFORM rating and add LULU to our Best Ideas List," Brown commented. "Our thesis continues to center on (1) SSS momentum likely to continue throughout 2015, (2) margin recovery story to take hold in 2016 and beyond, and (3) upside to 2H15 earnings driven by our confidence in continued momentum in the fundamentals. Our 2015 EPS estimate of $2.02 stands well above consensus at $1.93. Our channel checks continue to note positive traffic and sell through as well as successful price increases on seasonal items."

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 $65.36 yesterday.