BofA raised the firm’s price target on Lululemon to $450 from $410 and keeps a Buy rating on the shares. After having hosted meetings in Chicago and Minneapolis with the company’s CFO and other management, the firm has increased confidence in the outlook. Lululemon continues to balance its historically grassroots-oriented marketing program with several more meaningful campaigns, the membership program is "unique" and gaining traction and China is a key near and long-term driver, BofA contends.
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