Citi analyst Paul Lejuez raised the firm’s price target on Lululemon (LULU) to $325 from $275 and keeps a Neutral rating on the shares. The firm anticipates the company to report a Q1 earnings beat on June 5 riven by stronger comps versus consensus in the Americas and China. While Citi expects a Q1 beat and believes U.S. trends are currently stable, it thinks more innovation beyond Align No-Line is needed to feel better about Lululemon’s U.S. growth outlook. As such, it sees a balanced risk/reward on the shares into the earnings print.
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- Lululemon price target lowered to $275 from $330 at Citi
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