Lululemon Athletica LULU stock confirmed a horizontal resistanceA horizontal resistance chart pattern is a type of chart which shows how price movement follows a certain pattern when price reaches a certain level. The pattern forms a resistance... More breakout chart pattern on September 1, 2023, after the company reported impressive EPS and revenue beats for Q2.
LULU stock also has formed an Ascending TriangleAn ascending triangle chart pattern is a chart pattern used in technical analysis that is characterized by a flat upper trend line... More breakout chart pattern on September 3, 2023.
Lululemon Athletica is a company that designs and sells athletic apparel and accessories primarily for women, although they also have a men’s collection. They are known for their high-quality yoga pants, leggings, sports bras, and other activewear items. Lululemon focuses on creating functional and stylish clothing that is suitable for various athletic activities, including yoga, running, and training. They also offer a range of products like bags, hats, and socks. Additionally, Lululemon provides fitness classes and hosts community events to promote an active and healthy lifestyle.
Lululemon reports Q2 beats, analyst price target hikes
On August 31, 2023, Lululemon reported EPS of $2.68 versus the consensus estimate of $2.54. The company reported Q2 revenue of $2.21B versus the consensus estimate of $2.17B. The company reported same-store sales up 11% or 13% on a constant-dollar basis.
Calvin McDonald, Chief Executive Officer, stated: “Our Q2 results highlight the ongoing strength of the business amid a dynamic operating environment. I am proud of how our teams continue to deliver on our vision and offer an exciting pipeline of new products and experiences to our guests around the world. Our continued ability to gain market share and bring new customers into the brand illustrates the significant runway ahead for lululemon.”
A hoard of bullish analyst comments and price target hikes followed the EPS and revenue beats.
Lululemon price target raised at Barclays
On September 1, 2023, Barclays analyst Adrienne Yih raised the price target on Lululemon to $480 from $430 and kept an Overweight rating on the shares. The company posted a strong Q2 report with a solid beat across the board, the analyst tells investors in a research note. Guidance for the full year was raised above prior consensus and now implies 20% earnings growth at the mid-point.
Lululemon price target raised at Baird
On September 1, 2023, Baird raised the price target on Lululemon to $455 from $430 and kept an Outperform rating on the stock. The firm said its Q2 results and FQ3/F2023 guidance were ahead of expectations, further evidence of durable brand momentum in the face of a weakening US consumer backdrop. The US is decelerating against very tough comparisons but strong growth internationally speaks to the increasing importance of emerging markets to the story.
Lululemon price target raised at KeyBanc
On September 1, 2023, KeyBanc raised the price target on Lululemon to $450 from $425 and kept an Overweight rating on the stock following strong Q2 earnings results and raised FY23 guidance. KeyBanc calls Lululemon one of its favorite names this year, and long term, continues to see meaningful opportunity via product innovation/launches and international expansion.
Lululemon price target raised at Oppenheimer
On September 1, 2023, Oppenheimer raised the price target on Lululemon to $450 from $400 and kept an Outperform rating on the stock. Oppenheimer believes Lululemon is one of the most intriguing established, yet still developing brands within the global athleisure market, and following Q2 earnings results, Oppenheimer is more confident in management’s ability to manage ongoing macro and sector challenges while continuing to expand the reach of the brand, and developing further an already enviable, world-class omni-channel infrastructure. Oppenheimer called Lululemon a preferred play within athleisure and a top pick across its Consumer Growth and eCommerce coverage.
Lululemon price target raised at TD Cowen
On September 1, 2023, TD Cowen raised the price target on Lululemon to $535 from $531 and kept an Outperform rating on the stock. The firm noted Lululemon generated the highest gross marginGross margin is a critical financial metric that plays a pivotal role in evaluating a company's financial health and profitability. It is a percentage that indicates how efficientl... More in the history of the company and saw International and China growth and they view 2H sales and EPS guidance as fairly conservative.
💥 GET OUR LATEST CONTENT IN YOUR RSS FEED READER
We are entirely supported by readers like you. Thank you.🧡
This content is provided for informational purposes only and does not constitute financial, investment, tax or legal advice or a recommendation to buy any security or other financial asset. The content is general in nature and does not reflect any individual’s unique personal circumstances. The above content might not be suitable for your particular circumstances. Before making any financial decisions, you should strongly consider seeking advice from your own financial or investment advisor.
