Lululemon price target raised to $450 from $400 at Oppenheimer

Oppenheimer raised the firm’s price target on Lululemon to $450 from $400 and keeps an Outperform rating on the shares. For some time Oppenheimer has believed Lululemon is “one of the most intriguing established, yet still developing brands within the global athleisure market,” and following Q2 earnings results the firm comes away “more confident” in management’s ability to manage ongoing macro and sector challenges while “continuing to expand the reach of the brand,” and “developing further an already enviable, world-class omni-channel infrastructure.” Oppenheimer called Lululemon a preferred play within athleisure and a top pick across its Consumer Growth & eCommerce coverage.