RBC Capital analyst Kate Fitzsimons reiterated an Outperform rating and $435.00 price target on Lululemon Athletica Inc. (NASDAQ: LULU) raising estimates for 3Q/4Q sales, on digital growth now expected to be +90%/+90% YoY up from +75%/+75%). The company will report earnings on 12/10.

The analyst stated "With the stock essentially trading at pre-2Q levels and up ~30% since its September bottom, expectations on LULU have been building as we approach the holiday season. To that effect, we note LULU's historic tendency to guide conservatively, particularly given the backdrop. Our model looks for 16% sales growth in 4Q, and we'd expect management to guide to a low-to mid-teens 4Q sales growth level (prior HSD-LDDs)."

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Shares of Lululemon Athletica Inc. closed at $371.43 yesterday.