Truist raised the firm’s price target on Lululemon to $561 from $555 and keeps a Buy rating on the shares after the company raises its Q4 guidance ahead of the ICR conference to reflect solid Holiday sales trends. The firm notes that the update strengthens its conviction that Lululemon offers some of the strongest sales and earnings visibility in the space due to its leading brand heat and robust innovation pipeline, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on LULU:
- Nike Stock (NYSE:NKE): Can It Run Higher in 2024?
- Lululemon (NASDAQ:LULU) Raises Q4 Guidance amid Strong Holiday Sales
- Lululemon raises Q4 EPS view to $4.96-$5.00 from $4.85-$4.93, consensus $4.97
- Lululemon price target raised to $555 from $527 at Truist
- Lululemon price target raised to $555 from $520 at Baird