Lululemon price target raised to $460 from $450 at Stifel

Stifel analyst Jim Duffy raised the firm’s price target on Lululemon to $460 from $450 and keeps a Buy rating on the shares. The company’s "strong" FY23 outlook topped consensus and fiscal Q1 guidance endorses brand momentum and suggests potential for upside as the year unfolds, the analyst tells investors. "Bearish discourse around slowing growth and promotional risk to margin has been silenced," contends the firm, which reaffirms its conviction in Lululemon as a core growth holding.