Source: lululemon
Lululemon Athletica Inc. (NASDAQ: LULU) was an unusual disappointment with earnings. The company is still growing rapidly, but not quite at the same blistering pace as before. All markets mature and it may seem silly that 16% growth in same-store sales somehow managed to generate a shortfall in revenues.
Today we have three different firms which are chomping at the bit to get into Lululemon. Apparently the valuation has just become too enticing. We show a consensus price target of $55.40 from Thomson Reuters, but that may not quite be adjusted for all of the new analyst price targets.
Barclays raised its rating to OVERWEIGHT from EQUALWEIGHT and it assigned a $58.00 price target objective. Janney Capital Markets has raised the rating to BUY from NEUTRAL and it assigned a fair value target of $57.00 per share. KeyBanc Capital Markets also raised its rating to BUY from UNDERWEIGHT and assigned a price target objective of $58.00 per share.
Lululemon shares are trading up nearly 3% at $48.52 in pre-market trading versus a 52-week range of $25.82 to $64.49. Shares actually went under $44.00 yesterday on the disappointing revenues but they managed to close up at $47.17 as buyers came into the stock.
JON C. OGG
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