TD Cowen raised the firm’s price target on Lululemon to $382 from $375 and keeps a Buy rating on the shares. The firm said they poosted a Q2 sales miss but EPS upside was driven by gross margin, with EBIT dollars +13% year-over-year. The results and tempered 2H guidance speak to the durability of the financial model in the face of a slowdown in the U.S. business.
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