Lululemon Poised For Global And Men's Market Expansion, Analysts Adjust Forecasts Following Strong Q1 Results
Portfolio Pulse from Shivani Kumaresan
Lululemon Athletica Inc (NASDAQ:LULU) reported strong Q1 results, leading analysts to adjust their forecasts. BofA Securities, Wedbush, J.P. Morgan, and Telsey Advisory Group all reiterated their positive ratings, with price targets ranging from $400 to $470. Analysts highlighted LULU's innovation pipeline, international growth, and potential in the men's market.
June 06, 2024 | 6:07 pm
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Lululemon Athletica Inc (NASDAQ:LULU) reported better-than-expected Q1 results, leading analysts to adjust their forecasts. BofA Securities raised its price target to $440, Wedbush to $400, J.P. Morgan lowered to $457, and Telsey Advisory Group lowered to $470. Key growth drivers include innovation, international expansion, and the men's market.
The strong Q1 results and positive analyst adjustments indicate a bullish short-term outlook for LULU. The company's innovation pipeline, international growth, and potential in the men's market are key drivers. The stock is already trading higher by 5.7%, reflecting investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100