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Fly News Breaks for January 4, 2016
LULU
Jan 4, 2016 | 05:50 EDT
Wells Fargo analyst Ike Boruchow upgraded lululemon athletica to Outperform saying "meaningful improvements" to the retailer's supply chain should bring "several meaningful benefits" in 2016. The analyst has increasing confidence in management's stated margin goals and believes key negative catalysts are now behind the company. Boruchow raised his price target range for lululemon shares to $64-$66 from $50-$52. The retailer closed Thursday up 88c to $52.47.
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