Lululemon price target raised to $350 from $285 at Wells Fargo

Wells Fargo raised the firm’s price target on Lululemon (LULU) to $350 from $285 and keeps an Equal Weight rating on the shares. Lululemon’s Q3 showed signs of stability, with its comp, margin, and EPS beat illustrating that management’s actions are starting to work, the analyst tells investors in a research note. Issues remain in North America, but bills are likely to stay patient for an inflection in early 2025, the firm contends.