Lululemon price target raised to $520 from $450 at Citi

Citi raised the firm’s price target on Lululemon to $520 from $450 and keeps a Buy rating on the shares. The analyst expects a Q3 earnings beat when the company reports on December 7, driven by strong China growth and stronger gross margin. The firm believes Lululemon is driving strong new innovation across both men’s and women’s this holiday, which is helping drive growth across markets.