Telsey Advisory lowered the firm’s price target on Lululemon to $470 from $550 and keeps an Outperform rating on the shares. The company reported Q1 adjusted EPS that was higher year-over-year and higher than consensus, which was primarily driven by better-than-expected expense deleverage, the analyst tells investors. While the U.S. women’s business started the year slow, men’s and international remain strong, the firm says. Against mixed expectations, the company reported a “nice” Q1 beat, the firm concludes.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LULU:
- Lululemon (LULU) Stock: Website Traffic Hinted at Upbeat Q1 Results
- Lululemon Files SEC Report, Affirms Market Compliance
- LULU Earnings: Lululemon Stock Jumps 10% after Stellar Q1 Results
- Options Volatility and Implied Earnings Moves Today, June 05, 2024
- Lululemon (LULU) Q1 Earnings: Here’s What to Expect
Questions or Comments about the article? Write to editor@tipranks.com