LULU - Lululemon Poised For Global And Men's Market Expansion Analysts Adjust Forecasts Following Strong Q1 Results | Benzinga
Lululemon Athletica Inc (NASDAQ:LULU) reported better-than-expected first-quarter financial results Wednesday after the bell. The following are the comments from different analysts on the same.
BofA Securities – Reiterates Buy, price target raised from $430 to $440
Analyst Lorraine Hutchinson notes LULU’s improving innovation pipeline will result in accelerating sales trends, particularly as newness and product availability improves for the women’s business in 2H.
The analyst raised the FY24 EPS estimate by $0.70 to $14.27 to reflect the first-quarter beat, stronger sales, and higher interest income.
The international business (22% of sales) remains robust, with total first-quarter sales up 40% ccy and comps up 29%, said the analyst.
The analyst expects clearance to weigh slightly on second-quarter margins (it was a 50bp headwind in the first quarter) before turning positive as product newness drives improved sales.
Wedbush – Reiterates Outperform, price target raised from $397 to $400
Analyst Tom Nikic ...