Lululemon price target raised by $30 at Telsey Advisory, here’s why

Telsey Advisory analyst Dana Telsey raised the firm’s price target on Lululemon to $550 from $520 and keeps an Outperform rating on the shares after hosting an investor meeting with the company’s senior management. Amid a challenging backdrop, Lululemon has continued to produce “impressive” results, with a beat and bottom-line raise occurring in each quarter of the fiscal year so far, the analyst tells investors. Furthermore, the recently reported Q3 results beat expectations across the board and the company raised its guidance, the firm says. Telsey Advisory remains encouraged that Lululemon is experiencing continued momentum in the business despite the challenging operating environment.