Oppenheimer analyst Anna Andreeva came out with an update on Lululemon Athletica inc. (NASDAQ:LULU) after, despite port delays, the company’s two-year comp stack accelerated (positive conversion and traffic), with further acceleration guided for 2Q15. The analyst reiterated an Outperform rating on the stock and raised the price target to $75.00 (from $70.00).  Shares of LULU are currently trading at $66.28, down $1.99, or -2.91%.

Andreeva observed, “Half of inventory build ports-related, and we think LULU is managing overhang smartly with 2/3 of product re-distributed for 2H15 (to be sold at full price) and remainder to clear by end of 3Q15 (online warehouse sale in July).

“All in all, we view port-related pressure as transitory with demand inflecting. With recent investments starting to bear fruit, focus on innovation paying off, and athletic cycle strong, LULU should be a DD top-/bottom-line grower, some of best levels in retail.”, the analyst added.

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Anna Andreeva has a total average return of 10.4% and a 63.0% success rate. Andreeva has a 32.8% average return when recommending LULU, and is ranked #472 out of 3619 analysts.

Out of the 30 analysts polled by TipRanks, 15 rate Lululemon stock a Buy, 12 rate the stock a Hold and 3 recommend Sell. With a return potential of -21.1%, the stock’s consensus target price stands at $52.21.