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'Stand-Out Is An Understatement,' Morgan Stanley Comments On Lululemon Athletica's Q2 Performance

·1 min read
  • Morgan Stanley analyst Alex Straton reiterated an Overweight rating on the shares of Lululemon Athletica Inc (NASDAQ: LULU) and raised the price target to $343 from $315.

  • The company's Q2 earnings and Q3 guidance both were above Street expectations.

  • Straton said the company's performance demonstrates its ability to outperform in a challenging environment.

  • She noted that raised FY guidance stood out in a sea of Softlines Retail cuts and even embedded 2H22 performance deceleration.

  • Straton added that the stock could see more growth, having bounced more than 10%, reversing nearly all of its declines since mid-August.

  • She cited that Lululemon's inventory is the only thing to pick at, but she isn't raising alarm bells.

  • Price Action: LULU shares are trading higher by 7.95% at $317.86 on the last check Friday.

Latest Ratings for LULU

Date

Firm

Action

From

To

Jan 2022

Barclays

Maintains

Overweight

Jan 2022

Morgan Stanley

Maintains

Equal-Weight

Jan 2022

Telsey Advisory Group

Maintains

Outperform

View More Analyst Ratings for LULU

View the Latest Analyst Ratings

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