Wells Fargo analyst Ike Boruchow weighed in on athletic retailer Lululemon Athletica inc. (NASDAQ:LULU), reiterating an Outperform rating and raising his price target from the range of $75 to $77 up to the range of $84 to $86.

After meeting with the company’s management team, Burochow was impressed with their plans on several fronts including: improved digital marketing presence, strong inventory management, global growth plans, supply chain enhancements, and new product plans.

According to TipRanks, Boruchow has a 53% success rate recommending stocks with an average annual return of 5.5% per recommendation.