Lululemon price target raised to $450 from $434 at Deutsche Bank

Deutsche Bank analyst Gabriella Carbone raised the firm’s price target on Lululemon to $450 from $434 and keeps a Buy rating on the shares. The analyst expects Lululemon to beat Q3 estimates, driven by better than expected revenues, particularly in North America. Lululemon’s customer base remains relatively healthy and improved inventory flow along with new product launches likely led to robust sales trends despite the challenging macro environment, Carbone tells investors in a research note.