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Raymond James analyst Rick Patel raised the investment agency’s price target on Lululemon (LULU.US) from $345 to $438 and maintained a “strong buy” rating on the stock. He told investors in a research report that he remains very optimistic about third-quarter results, which are expected to be announced after the close on Dec. 8, and believes the company’s fourth-quarter results are off to a great start so far. . Rick Patel pointed out that his weekly marketing channels survey found that Lululemon did not offer as broad a range of promotions as other apparel brands and retailers in the third quarter of the calendar year and so far in the fourth quarter.
Lululemon shares closed 1.26% down yesterday at $381,130.
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Responsible editor: Guo Mingyu
