Argus analyst John Staszak keeps his Buy rating and $415 price target on Lululemon but notes that the selloff in the stock presents a buying opportunity. The company has a strong brand and growing direct-to-consumer sales, which should lead to higher margins over the next several years, the analyst tells investors in a research note. Staszak adds that while Lululemon’s inventory rose 85% in Q3, its management believes the company is well positioned to meet FY24 demand.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on LULU:
- Lululemon price target raised to $387 from $343 at Morgan Stanley
- Jefferies says ‘sell shares now’ with Lululemon Q3 ‘as good as it gets’
- Lululemon price target raised to $360 from $345 at Wells Fargo
- Lululemon removed from Conviction Buy list at Goldman on tough comps
- Lululemon downgraded to Buy from Conviction Buy at Goldman Sachs