Piper Sandler analyst Abbie Zvejnieks raised the firm’s price target on Lululemon to $390 from $350 and keeps an Overweight rating on the shares. The company had a "strong" Q3 which beat on the top and bottom line, but its Q4 guidance "left little room for upside" to Street estimates, Zvejnieks tells investors in a research note. While not entirely immune to macro pressures, Lululemon is one of the best positioned companies in the near term as the consumer gravitates towards product with high brand affinity and technical innovation, says the analyst.
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Published first on TheFly
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Read More on LULU:
- Lululemon Drops after Q3 Earnings Report
- Lululemon sees FY22 EPS $9.87-$9.97, consensus $9.92
- Lululemon sees Q4 EPS $4.20-$4.30, consensus $4.30
- Lululemon reports Q3 EPS $2.00, consensus $1.97
- Lululemon options imply 6.9% move in share price post-earnings
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