Lululemon price target raised to $503 from $420 at Wedbush

Wedbush analyst Tom Nikic raised the firm’s price target on Lululemon to $503 from $420 and keeps an Outperform rating on the shares. Wedbush remains bullish on Lululemon following another strong beat and raise quarter, the analyst tells investors in a research note, adding that Q4 guidance looks conservative.