The Fly

Lululemon price target raised to $438 from $345 at Raymond James

Raymond James analyst Rick Patel raised the firm’s price target on Lululemon to $438 from $345 and keeps a Strong Buy rating on the shares, telling investors that he remains "bullish" into fiscal Q3 results due on December 8 and believes Q4-to-date is off to a good start. His weekly channel checks found that Lululemon didn’t have broad-based promotions in Q3 or so far in Q4 the way other apparel brands and retailers had, Patel noted.

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