Goldman checks constructive on Lululemon ‘brand heat’ and traffic

Ahead of Lululemon’s fiscal Q4 earnings report, Goldman Sachs analyst Brooke Roach said the firm’s checks remain constructive for "brand heat" and traffic and while noting that inventory levels appear to remain heavy through February, the firm believes recent weeks have shown some signs of sequential progress and expects commentary on this to point to normalization. Goldman keeps a Buy rating and $397 price target on Lululemon shares.