Lululemon price target raised to $376 from $360 at UBS

UBS analyst Jay Sole raised the firm’s price target on Lululemon (LULU) to $376 from $360 and keeps a Neutral rating on the shares. The firm’s conversations suggest the market has started to price in U.S. tax cuts, reduced government spending, and deregulation, but UBS still thinks the market still underestimates how these actions could supercharge apparel and footwear spending as well as sentiment, the analyst tells investors in a research note. Additionally, the market remains focused on tariff risk, but the firm’s analysis suggests Softline company earnings wouldn’t be majorly impacted.