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Lululemon Stock Surges on Analyst Bullishness
27 Nov
Summary
- Analyst reiterates buy recommendation and $303 price target.
- Company faces challenges but shows recent product wins.
- Lululemon shares traded up nearly 5% on Tuesday.
Lululemon's stock saw a significant jump of nearly 5% on Tuesday, attracting renewed investor interest. This surge followed the release of a positive analyst report that reiterated a buy recommendation and set a $303 price target for the athleisure wear company.
While acknowledging Lululemon's current challenges, the analyst highlighted recent product wins and believes there is potential upside due to the stock's low valuation and current gloomy investor sentiment. The company is anticipated to announce its third-quarter financial results on Thursday, December 4th.
Although Lululemon is in a maturing phase and no longer the rapid-growth star it once was, its shares appear to be undervalued. For investors who believe in the company's long-term prospects, the current stock price presents a potentially decent bargain.
