BofA raised the firm’s price target on Lululemon (LULU) to $480 from $420 and keeps a Buy rating on the shares after the the company reported a better-than-expected holiday and the firm hosted a meeting with Howard Tubin, Head of IR, at the ICR conference. Following the announcement and the meeting, the firm raised its Q4 EPS estimate by 4% to $5.84 to incorporate the stronger sales update and better gross margin view.
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- Lululemon (NASDAQ:LULU) Rises after Raising Q4 Forecast
- Lululemon raises Q4 EPS view to $5.81-$5.85 from $5.56-$5.64, consensus $5.66
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