Lululemon price target raised to $340 from $260 at Piper Sandler

Piper Sandler raised the firm’s price target on Lululemon (LULU) to $340 from $260 and keeps a Neutral rating on the shares following Q3 results. Piper said Lululemon is showing “impressive agility” to guardrail profitability, albeit the core U.S. trend remained similar sequentially and the upped EPS range is back to where the year started. The firm added that it is encouraged by stabilization but waiting for demand inflection in the U.S.