Source: lululemon
Today we have three different firms which are chomping at the bit to get into Lululemon. Apparently the valuation has just become too enticing. We show a consensus price target of $55.40 from Thomson Reuters, but that may not quite be adjusted for all of the new analyst price targets.
Barclays raised its rating to OVERWEIGHT from EQUALWEIGHT and it assigned a $58.00 price target objective. Janney Capital Markets has raised the rating to BUY from NEUTRAL and it assigned a fair value target of $57.00 per share. KeyBanc Capital Markets also raised its rating to BUY from UNDERWEIGHT and assigned a price target objective of $58.00 per share.
Lululemon shares are trading up nearly 3% at $48.52 in pre-market trading versus a 52-week range of $25.82 to $64.49. Shares actually went under $44.00 yesterday on the disappointing revenues but they managed to close up at $47.17 as buyers came into the stock.
JON C. OGG
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