Morgan Stanley raised the firm’s price target on Lululemon (LULU) to $345 from $314 and keeps an Overweight rating on the shares. The firm sees near-term and outyear EPS protection, noting that it expects a “slight” Q3 EPS beat and fiscal year guidance reiteration, but adds that it believes debates on Americas bottoming, the China and international opportunity, and the company’s “promotional propensity” are likely continue into Q4.
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