Oppenheimer ‘hard-pressed to see compelling suitor’ for Lululemon’s Mirror

After Bloomberg reported that sources says Lululemon is exploring a sale of home fitness technology Mirror, Oppenheimer analyst Brian Nagel says the firm has "no way of verifying the accuracy of news from Bloomberg," but it does believe that the commitment of Lululemon to Mirror "has likely waned meaningfully." The firm says that it is "hard-pressed to see a compelling suitor paying up" for the Mirror technology. However, the firm adds that investors are underappreciating meaningfully near- and longer-term expansion prospects for Lululemon and it keeps an Outperform rating on the shares, which it calls a top pick within its Consumer Growth & eCommerce coverage.