Sterne Agee CRT reiterated a Buy rating and $77.00 price target on Lululemon Athletica Inc. (NASDAQ: LULU) ahead of the company's 2Q15 earnings results. LULU is expected to release its earnings results on September 10th.

Analyst Sam Poser commented, "Reiterate Buy. The athletic apparel market continues to expand, and LULU is solidifying its premium position within the space. We expect total SSS for 2Q15 to increase 7.2%, in line with LULU's guidance for +HSD. The company is focused on execution both in the stores and on a production level. The current retail price increases of some women's pants is not of concern, as we believe the % of the price increases will more than offset the % of lost customers. The necessary investments are being made in 2015 to support the global growth of the brand. However, the initial global expansion strategy may be a bit too all over the place. LULU will report earnings on Thursday, September 10, BMO."

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Shares of Lululemon Athletica Inc. closed at $64.95 yesterday.