Lululemon price target raised to $460 from $420 at Truist

Truist raised the firm’s price target on Lululemon (LULU) to $460 from $420 and keeps a Buy rating on the shares. Even after its recent outperformance Lululemon shares are still down about 23% since the beginning of 2024, which has created an attractive entry-point, especially given growing momentum in Truist Card Data and TikTok trends that supports an improving U.S. outlook, the analyst tells investors in a research note. As Lululemon continues to execute on bringing more newness into its assortment, the firm believes that demand trends will continue improving, which combined with easing comparisons makes the firm very bullish on the company’s 2025 opportunities, Truist added.