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Fly News Breaks for July 11, 2019
VFC, UA, NKE, LULU
Jul 11, 2019 | 07:24 EDT
Argus analyst John Staszak raised his price target on Lululemon (LULU) to $200 and kept his Buy rating, saying the company has "substantial opportunities" to expand outside North America, especially in the China market. The analyst is also positive on Lululemon's strong brand, growing e-commerce sales, and prospects in the apparel sector. Staszak notes that his new price target models a forward earnings multiple of 36-times, which is in the middle of the 22- to 44-times multiples of peers like Nike (NKE), Under Armour (UA), and VF Corp (VFC).
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