Lululemon price target raised to $399 from $335 at UBS

UBS analyst Jay Sole raised the firm’s price target on Lululemon to $399 from $335 and keeps a Neutral rating on the shares. UBS sees Lululemon delivering 13% EPS and 13% sales CAGRs over a five-year period, and sees the stock grinding higher as earnings increase, the analyst tells investors in a research note. The firm thinks more meaningful EPS upside is limited given the potential for a major recession.