Lululemon Athletica Inc. (LULU) PT Raised to $420 at Truist Securities
Truist Securities analyst Scot Ciccarelli raised the price target on Lululemon Athletica Inc. (NASDAQ: LULU) to $420.00 (from $360.00) while maintaining a Buy rating.
The analyst comments "LULU was up HSD% AMC. Its US business appears to be stabilizing as they introduce more “newness” into their assortments. With mgmt. pointing to further sequential improvements in this crucial area & a return to historical levels by 1Q25, we are bullish on their opportunity to reaccelerate growth in the US. With the US outlook improving, sustained international momentum, and strong full-priced selling, we remain bullish. Even at the after-market price of ~$375, LULU is still down ~27% YTD vs. a ~27% increase for the S&P 500, which we believe creates an attractive entry point for shares. PT to $420 from $360."