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Fly News Breaks for December 12, 2019
LULU
Dec 12, 2019 | 09:05 EDT
MKM Partners analyst Roxanne Meyer raised her price target on Lululemon to $258 and kept her Buy rating after its "solid" Q3 comps and gross margins while demonstrating "momentum" heading into Q3. The analyst adds that while a "tad short" of the high end of expectations, the 17% constant currency same store sales gain was "exceptional". Meyer further notes that the sustainability of Lululemon's momentum should remain intact given that sales rose across its channels, geographies, and gender products.
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