BTIG analysts reiterated a Buy rating and $425.00 price target on Lululemon Athletica Inc. (NASDAQ:).
The analysts comment: “Following the initiation of our Buy coverage, our conversations with investors suggest that sentiment is leaning heavily toward the negative, and last week's announcement of organizational changes only served to fan the flames. While we note better exit rates in April, we do not expect The first quarter results will offer enough conclusive answers to end the debate over the factors and duration of the recent LULU slowdown in North America. Still, we forecast guidance for the first and. Q2 relatively in line, and we expect a reiteration of guidance (details in note). We maintain our view that competitive concerns are overblown, fundamentals remain healthy and LULU stock (trading at low multiples and). below their growth peers) are attractive at current levels.
