BTIG Reiterates Buy Rating on Lululemon Athletica Inc. By Cointelegraph
BTIG analysts reiterated a Buy rating and $425.00 price target on Lululemon Athletica Inc. (NASDAQ:LULU).
The analysts comment «Following our initiation of coverage at Buy, our investor convos suggest sentiment skewed heavily negative, with last week’s announcement of organizational changes only serving to fan the flames. While we did observe improved exit rates in April, we don’t expect Q1 results to offer any conclusive answers sufficient to end the debate around the drivers and duration of LULU’s recent N. America deceleration. Still, we forecast a relatively in-line F’Q1 and F’Q2 guide, and expect a reiteration of guidance (details within note). We maintain our view that competitive concerns are overstated, fundamentals remain healthy, and LULU shares (trading at trough multiples and below growth peers) are attractive at current levels. Reit. Buy.»
