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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LULU:
- Lululemon (LULU) Impresses Investors with Stronger-than-Expected Holiday Sales
- Morning Movers: Intra-Cellular surges following deal to be bought by J&J
- 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
- Lululemon price target raised to $460 from $420 at Truist
Questions or Comments about the article? Write to editor@tipranks.com