Evercore ISI analyst Michael Binetti initiated coverage of Lululemon with an Outperform rating and $475 price target. The firm says Lululemon is one of its top five Outperform rated stocks. The company is the most consistent high-growth, beat and raise story in Evercore’s retail coverage, the analyst tells investors in a research note. The firm believes Lululemon’s balance of growth across segments, geographies, and channels reinforces confidence that the company can maintain its growth targets at the top of the peer group in 2024 and 2025.
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