Raymond James analyst Rick Patel raised the firm’s price target on Lululemon to $440 from $438 and keeps a Strong Buy rating on the shares. The company reported Q2 revenue and EPS that beat the firms estimates, the analyst tells investors. In these results, the firm liked: for Q3, North American growth has accelerated; strength in China continued; growth is being driven by new and core products; GM% performance remained strong; and inventories are lean, the firm says.
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