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Fly News Breaks for December 7, 2018
LULU
Dec 7, 2018 | 08:13 EDT
Needham analyst Rick Patel kept his Hold rating on Lululemon after its Q3 results, saying the quarter was "strong" as anticipated with fewer promotions and higher indicated pricing on over 2K of the company's products. The analyst anticipates Lululemon momentum to continue in Q4, with higher comps in margins coming in 2019, but also warns that the stock already trades at a considerably premium valuation of 30.5-times forward earnings vs. its historical average multiple of 26-times.
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