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lululemon recall not likely to impair sales, says RW Baird

Baird's consumer survey suggests lululemons's recall is not likely to permanently impair its sales trajectory. The firm believes the company will resolve its near term quality issues and emerge smarter and stronger. Baird expects robust top line growth, strong e-commerce, and rapid store growth and believes guidance is beatable. Shares are Outperform rated with an $80 price target.