Lululemon (LULU) 'Back in Style', Says Analyst
Topeka Capital reiterated a Buy rating on Lululemon Athletica Inc. (NASDAQ: LULU) with a price target of $70.00. The stock is "back in style," punned analyst Dorothy S. Lakner.
"With a 4Q beat under its belt, product problems behind it, new senior management in place and very conservative guidance now out for 2014, we believe LULU is poised to reclaim its spot as a standout growth story in specialty retailing. New product is being very well received by LULU customers and as the mix skews more towards the seasonal goods they love, we see sales and earnings growth accelerating into 2H14. We see the upcoming 4/17 analyst day as likely to further boost renewed enthusiasm for the shares," said Lakner.
For an analyst ratings summary and ratings history on Lululemon Athletica Inc. click here. For more ratings news on Lululemon Athletica Inc. click here.
"With a 4Q beat under its belt, product problems behind it, new senior management in place and very conservative guidance now out for 2014, we believe LULU is poised to reclaim its spot as a standout growth story in specialty retailing. New product is being very well received by LULU customers and as the mix skews more towards the seasonal goods they love, we see sales and earnings growth accelerating into 2H14. We see the upcoming 4/17 analyst day as likely to further boost renewed enthusiasm for the shares," said Lakner.
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 $48.23 yesterday.