LULU - Lululemon: Now A Compelling Valuation Case Shares Near Critical Support
2024-07-15 16:10:05 ET
Summary
- Lululemon stock has struggled in 2024 amid consumer shifts and competition, but the Q1 report offered reason for optimism.
- LULU's Q1 results beat estimates, with strong international sales offsetting domestic weakness.
- Now with a low mid-teens P/E and double-digit EPS growth expected, shares are cheap.
- I highlight key price levels to monitor ahead of Q2 results due out next month.
Lululemon ( LULU ) has been among the worst-performing stocks in the S&P 500 so far this year. The athleisure retailer has struggled amid shifting consumer preferences and new competition in what’s often a somewhat low-margin business. What’s more, there are growing signs that many consumer cohorts are coming under pressure amid a rising unemployment rate and cooling wage gains. ...
Lululemon: Now A Compelling Valuation Case, Shares Near Critical Support