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Fly News Breaks for May 22, 2018
LULU
May 22, 2018 | 07:17 EDT
Stifel analyst Jim Duffy said the recent strength in Lululemon shares indicates investors are anticipating strong Q1 results and he expects the company to deliver in light of lapping easy compares against merchandising and ecommerce missteps in 1Q17. He also expects any upside from Q1 to be passed through to FY18 guidance and he raised his price target on the stock to $97 from $81 in advance of the report. However, Duffy maintains a Hold rating on Lululemon, citing valuation and execution risk.
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