Lululemon price target raised to $425 from $400 at KeyBanc

KeyBanc raised the firm’s price target on Lululemon to $425 from $400 and keeps an Overweight rating on the shares. The firm changed analysts on the name. The new analyst believes Lululemon could deliver 17% sales growth this year. While that marks a sequential slowdown from fiscal 2023, demand is still robust and estimates could prove to be conservative due to the ongoing casualization of apparel, increasing brand awareness, international expansion, and new/innovative products, the KeyBanc writes.