Jefferies Remains Cautious on Lululemon Athletica inc.
Jefferies analyst Daniel Binder came out with a research report on Lululemon Athletica inc. (NASDAQ:LULU) following the Jefferies 2015 Global Consumer Conference. The analyst reiterated a Hold rating on the stock with a price target of $65. Shares of LULU closed yesterday at $66.34, up $0.35, or 0.53%.
Binder noted, “Last night, we hosted an investor dinner with LULU CFO Stuart Haselden in Nantucket. The tone of the dinner was upbeat, with a focus on the improvements in trend the company is seeing from the recent enhancements to product assortment, with more to come in the back half of the year. While we expect ongoing top-line momentum to continue, the inventory build up from the West Coast port delays and full valuation keeps us Hold rated for now.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Daniel Binder has a total average return of 3.9% and a 60.5% success rate. Binder is ranked #1226 out of 3640 analysts.
Out of 27 analysts polled by Tipranks, 14 rate LULU stock a Buy, 11 rate the stock a Hold, and 2 recommend a Sell rating. With a return potential of 4.51%, the stock’s consensus target price stands at $69.33.