Don’t Count Lululemon Out Yet

Shares of lululemon athletica (LULU) have been under pressure lately on worries about its disappointing first-quarter guidance and worries that it can return to growth in the second quarter.

However those concerns are misplaced, according to Cowen & Co.’s Oliver Chen. He reiterated an Outperform rating and $64 price target on lululemon Thursday, writing that his meetings with management bolster his optimism that lululemon can return to growth through product innovation, better online visual merchandise, and its global brand campaign.
Source: Barrons

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