Morgan Stanley raised the firm’s price target on Lululemon (LULU) to $420 from $414 and keeps an Overweight rating on the shares after the company raised Q4 sales, gross margin, inventory and EPS guidance above both sell-side and buy-side expectations at the ICR conference. The firm, which thinks Lululemon “ultimately exceeds even this raised 4Q bar,” remains Overweight on the stock citing the company’s “improving rate-of-change story potential” in 2025.
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