Wedbush analyst Jen Redding raised her price target for lululemon to $225 from $190 and maintained a Neutral rating, saying her firm's proprietary data shows upside to consensus gross margin, adding that Wedbush Search Data shows revenue running below the Street. Into the holiday, Redding says her firm's forward models show momentum, though she would look for conservative guidance given key holiday dates that lay ahead in a selling season that is shorter by six days. Redding says she expects an "upbeat" tone from management and positive commentary on holiday trends on the Q3 call.