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Fly News Breaks for April 23, 2018
LULU
Apr 23, 2018 | 06:39 EDT
As reported earlier, Needham analyst Rick Patel downgraded Lululemon to Hold from Buy, citing valuation and less room for upside given the rising earnings expectations. The analyst notes that the stock price has risen 85% since its bottom in Q2 of 2017, reaching a multiple of 28-times the expected FY19 earnings against the 25-times historic 5-year average. Patel adds that the longer-term upside drivers remain intact and Q1 should benefit from easy comparisons, but the setup for the rest of the year is "more difficult".
News For LULU From the Last 2 Days
