Truist Securities analyst Joseph Civello initiated coverage on Lululemon Athletica Inc. (NASDAQ: LULU) with a Buy rating and price target of $500.
According to the analyst, Lululemon has some of the strongest brand loyalty in the activewear industry as its direct-to-consumer (DTC) model enables it to invest more in products & foster deeper customer relationships.
The analyst writes that even in today's macro-pressured/promotional environment, LULU's demand/full-price selling remains robust.
Civello sees ample growth opportunities as it rapidly expands in key areas (men's, digital, & international).
From high-tech fabrics that offer the ...