Lululemon upgraded to Outperform on positive data signal, selloff at Wedbush
As previously reported, Wedbush analyst Jen Redding upgraded Lululemon to Outperform from Neutral, with a $176 price target. The analyst says she has long viewed lululemon as an "impressive" growth story, with a best-in-class retail leadership team at the helm, and continues to see the company's cutting-edge data analytics and technology platforms on the forefront of wins in the years to come. Redding also sees fundamentals as compelling, including a strong e-commerce segment with meaningful growth ahead, and promising international expansion opportunities. Insights across her suite of proprietary Wedbush Data Analytics Models give her confidence in her above consensus quarterly forecast. Redding attributes the recent pullback in share price as owing to a selloff in the market.