Cowen Remains Bullish on lululemon athletica (LULU) Following Strong 4Q Results

Cowen reiterated an Outperform rating and $66.00 price target on Lululemon Athletica Inc. (NASDAQ: LULU) following the company's 4Q earnings report. LULU reported 4Q EPS of $0.85, higher than the Street at $0.80, & vs. management's guidance of $0.78-$0.80. The result was driven by a higher-than-anticipated sales, a higher-than-expected gross margin rate, and a lower-than-modeled share count.

Analyst Oliver Chen commented, "We are encouraged with LULU's strong 4Q EPS beat of 85c vs. Street at 80c, w/GM declining only -113bp vs. Street's estimate of -220bp. Investor focus will likely be on 1Q guide below St. (EPS: 28-30c vs. St. 37c) & FY16 ($2.00-$2.15 vs. St. $2.15) - w/questions on margin performance throughout year, and cadence of comps & margin throughout FY16."

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 $61.24 yesterday.

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