Fly News Breaks for January 15, 2020
Jan 15, 2020 | 11:55 EDT
Raymond James analyst Matthew McClintock raised his price target for lululemon to $300 from $275 following the company's presentation at the ICR 2020 Conference, saying his biggest takeaway is that lululemon should now be considered in the realm of retail/consumer "elite," where valuation always appears to be a concern to new investors yet has not prevented existing shareholders from achieving substantial alpha on both a short- and long-term basis. McClintock tells investors in a research note that lululemon's 4Q19-to-date results were significantly better than internal expectations, as underlying strength in the business appeared immune to external factors such as fewer holiday shopping days. The analyst says lululemon is his best idea for a "perpetual always-buy-the-dip" stock going forward.
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