Lululemon price target raised to $360 from $315 at UBS

UBS raised the firm’s price target on Lululemon (LULU) to $360 from $315 and keeps a Neutral rating on the shares following the “solid” Q3 earnings report. The direction of the company’s Americas growth rate from here has major implications for Lululemon’s long-term earnings outlook and its P/E, the analyst tells investors in a research note. The firm thinks the stock will be be rangebound until the market can determine if Lululemon can deliver on its promised innovation pipeline and return its U.S. business to growth.