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A Preferred Re-Opening Play: Lululemon Athletica Inc.

  • Oppenheimer & Co. Inc.
  • April 8, 2021
Upbeat Q4 Report to Re-Focus Investors on Fundamentals

Oppenheimer analysts reiterate their investment rating of Outperform on shares of lululemon (LULU). Their 12- to 18-month price target for LULU remains $405 and suggests upside of more than 30% from current levels. Over the past several months, LULU has languished and under-performed rather meaningfully broader indices and shares of other high quality growth companies.

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Analysts have carefully reviewed LULU and the key tenets of our long-standing positive call on shares. Recent weakness in lululemon shares appears largely market driven and not reflective of underlying fundamental weakness at the company.

Oppenheimer analysts are optimistic that forthcoming, positive data points from the company should underpin a gradual recovery in LULU back toward recent highs. LULU continues to represent one of our preferred re-opening plays across consumer.

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