Evercore ISI raised the firm’s price target on Lululemon (LULU) to $400 from $320 and keeps an Outperform rating on the shares. The debate heading into Q1 earnings is whether new innovation, especially the new Align No Line pant, is finally gaining enough traction to drive an inflection to even slightly positive U.S. same-store sales growth over the next few quarters, says the analyst, who thinks it can. The analyst maintains Lululemon as a “Top 5 Outperform rated stock” ahead of earnings, the analyst added.
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