Analysts at JPMorgan Chase & Co. assumed coverage on shares of Lululemon (NASDAQ:LULU) in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating and a $84.00 price target on the stock. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 25.47% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of LULU with an OW rating and December 2014 price target of $84. After a 2013 wrought with execution issues, we see multiple levers to reaccelerate top- and bottom-line growth in FY14 and beyond, driven by low- to midteens footage growth, HSD-LDD comp gains, double-digit online growth, and margin recovery over time. 2014 potential catalysts for lulu include: 1) lapping the easier comp and margin comparisons from the 2013 Luon recall; 2) appointment of a new CEO, who could be showcased at the brand’s April Analyst Day; and 3) lulu’s first European store opening in London in 2Q14. LULU’s multiple—while not cheap— could be poised for expansion once a new CEO is appointed and investors refocus on the brand’s top-line and margin recapture prospects in 2014 and beyond.”
LULU has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Lululemon in a research note to investors on Monday, October 28th. Separately, analysts at Robert W. Baird raised their price target on shares of Lululemon from $78.00 to $87.00 in a research note to investors on Monday, October 21st. They now have an “outperform” rating on the stock. Finally, analysts at Barclays reiterated a “buy” rating on shares of Lululemon in a research note to investors on Monday, October 14th. They now have a $85.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Lululemon has an average rating of “Buy” and a consensus target price of $76.82.
Shares of Lululemon (NASDAQ:LULU) opened at 66.95 on Wednesday. Lululemon has a 1-year low of $59.60 and a 1-year high of $82.50. The stock’s 50-day moving average is $72.36 and its 200-day moving average is $71.71. The company has a market cap of $9.710 billion and a P/E ratio of 36.19.
Lululemon (NASDAQ:LULU) last released its earnings data on Thursday, September 12th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. The company had revenue of $344.50 million for the quarter, compared to the consensus estimate of $342.70 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. On average, analysts predict that Lululemon will post $1.96 earnings per share for the current fiscal year.
Manufactures, distributes and sells technical athletics and yoga apparel. The Company works in cooperation with various athletes to create designs specific to meet their needs.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.