Citi Upgrades Lululemon To Buy Following 28% Share Pullback

Citi analyst Paul Lejuez upgraded Lululemon Athletica (LULU) to Buy from Neutral with an unchanged price target of $152. The stock closed yesterday up $1.84 to $116.85.

Fears of a macro slowdown have taken the winning retail brands down in recent months with the rest of the group, "seemingly painting all with the same brush," Lejuez tells investors in a research note. Lululemon has "been a victim," with the stock down 28% from the September 28 high, yet it has a story of "improving fundamentals and stand-out growth prospects," says the analyst.

He sees the lower share price as a buying opportunity. 
 

Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at  more

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.