A Piper Sandler analyst upgraded lululemon stock, citing opportunity for “outperformance in outerwear this Fall/Winter, and stable promotional intensity.”
A Piper Sandler & Co. analyst upgraded lululemon athletica Inc. stock, citing opportunity for “outperformance in outerwear this Fall/Winter, and stable promotional intensity.”, Abbie Zvejnieks, research analyst at Piper Sandler, raised her rating for the Vancouver-based company to overweight , from neutral. She also increased her price target to US$350, from US$320.
Zvejnieks thinks lululemon’s outerwear division will outperform this year, with colder weather expected to hit North America in the fall and winter.Zvejnieks added that lululemon will not have to “react as much as peers to the more intense promotional environment.”, teens’ favourite clothing brand is Nike, Inc. , followed by lululemon and American Eagle Outfitters, Inc.
“We do not think LULU will have to react to NKE's increased promotional activity as much as peers due to the stronger brand positioning and more affluent customer base. Additionally, app download data and Google Trends remain solid,” Zvejnieks said.“The Piper Sandler Taking Stock With Teens® survey is a semi-annual research project that gathers input from 14,500 teens with an average age of 15.8 years.
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