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Fly News Breaks for September 21, 2015
LULU
Sep 21, 2015 | 08:04 EDT
As previously reported, Morgan Stanley upgraded lululemon to Overweight from Equal Weight. Analyst Kimberly Greenberger believes lululemon's EBIT margin will hit an inflection point in 2016, supporting 20% earnings growth. Greenberger said weak share performance and double digit 2016 earnings growth should drive share outperformance, but acknowledges the call could be early given elevated inventory levels. The analyst raised her price target on lululemon's shares to $68 from $56.
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