Piper Jaffray analyst Erinn Murphy raised her estimates for Lululemon Athletica to reflect last night's "strong" beat and raise performance. Results were "clean" and highlighted by quarter-over-quarter acceleration in men's, 50 basis points of gross margin upside, and outerwear doubling year-over-year, Murphy tells investors in a research note. Importantly, Lululemon was bullish on quarter-to-date trends, but is prudently guiding Q4 comps up low double-digits given the six fewer holiday shopping days year-over-year, says the analyst. She raised her price target for Lululemon to $245 from $244 and keeps an Overweight rating on the shares.