Analyst Janine Stichter of BTIG maintained a Buy rating on Lululemon Athletica (LULU – Research Report), retaining the price target of $470.00.
Janine Stichter’s rating is based on several positive indicators for Lululemon Athletica. The company is showing promising signs of product innovation and newness, particularly with the ‘Glow Up’ franchise, which is crucial for maintaining its brand identity and distinguishing itself from competitors. This product improvement is expected to drive growth in North America, despite some macroeconomic uncertainties.
Furthermore, financial data supports this optimistic outlook, with credit card data indicating positive trends and US search interest reaching new peaks. The company’s Q4 earnings are anticipated to align with expectations, and there is potential for guidance to exceed consensus estimates. Stichter also notes that Lululemon’s stock has declined over 20% from its January highs, presenting a buying opportunity given the company’s strong fundamentals and growth prospects.
In another report released yesterday, Piper Sandler also reiterated a Buy rating on the stock with a $420.00 price target.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LULU in relation to earlier this year.
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