Bernstein raised the firm’s price target on Lululemon to $430 from $400 and keeps a Market Perform rating on the shares. The analyst says 2024 is shaping up to be a year of two halves for U.S. consumer discretionary spending. The firm sees a middle-income “squeeze” and trade-down to off-price in the first half of the year, followed by a second half rally in sportswear and brands driven by easy comparables and rate cuts. Nike (NKE), Burlington Stores (BURL) and TJX (TJX) are its top picks.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on LULU:
- William Blair sees Lululemon raising Q4 outlook on ‘robust’ holiday sales
- Lululemon’s (NASDAQ:LULU) Emissions Jump despite Promising to Reduce Them
- Nike price target lowered to $107 from $108 at Truist
- The sports and lifestyle brand stocks to own in 2024, according to Stifel
- Lululemon price target raised by $67 at Stifel, here’s why