Amid Macro Headwinds, Lululemon Shines Bright With Topline Growth And Broad-Based Momentum: Morgan Stanley
Portfolio Pulse from Shivani Kumaresan
Morgan Stanley analyst Alex Straton reiterated an Overweight rating on Lululemon Athletica Inc (NASDAQ:LULU) and raised the price target from $405 to $424. LULU's Q1 results show broad-based momentum across channels, geographies, and categories, making it one of the few stocks to deliver an across-the-board beat & raise this earnings season, along with On Holding AG (NYSE:ONON).
June 02, 2023 | 6:39 pm
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Morgan Stanley analyst raises Lululemon's price target to $424, citing broad-based momentum and resilience in Q1 results.
The analyst's Overweight rating and raised price target for LULU indicate a positive outlook for the stock. The Q1 results show strong performance across various aspects, suggesting that LULU can weather macro headwinds more effectively than peers, which is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
On Holding AG (NYSE:ONON) is mentioned as one of the few stocks to deliver an across-the-board beat & raise this earnings season, along with Lululemon.
ONON is mentioned as one of the few stocks to deliver strong performance this earnings season, which could positively impact its stock price in the short term. However, the focus of the article is primarily on LULU, so the impact on ONON may be less significant.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50