Benzinga - Lululemon Athletica Inc. (NASDAQ: LULU) reported better-than-expected Q4 results and issued strong forecast.
Lululemon reported fourth-quarter revenue of $2.77 billion, which was up 30% year-over-year. The revenue total beat a Street estimate of $2.70 billion. The company reported adjusted earnings per share of $4.40 in the fourth quarter, beating a Street estimate of $4.26.
For the full fiscal year, Lululemon sees revenue coming in a range of $9.30 billion to $9.41 billion, which would be year-over-year growth of 15%. Full-year earnings per share are guided to be in the range of $11.50 to $11.72.
Lululemon shares jumped 16% to $371.50 in today’s pre-market trading session.
These analysts made changes to their price targets on Lululemon following the release of results.
- Keybanc raised the price target on Lululemon from $375 to $390. Keybanc analyst Noah Zatzkin maintained an Overweight rating.
- Citigroup boosted the price target on Lululemon from $350 to $440. Citigroup analyst Paul Lejuez upgraded the stock from Neutral to Buy.
- Guggenheim raised the price target on Lululemon from $400 to $440. Guggenheim analyst Gregory Francfort maintained the stock with a Buy rating.
- Wells Fargo raised the price target on Lululemon from $380 to $425. Wells Fargo analyst Ike Boruchow maintained the stock with an Overweight rating.
- Stifel increased the price target on Lululemon from $450 to $460. Stifel analyst Jim Duffy maintained the stock with a Buy rating.
- Credit Suisse raised the price target on Lululemon from $410 to $420. Credit Suisse analyst Michael Binetti maintained the stock with an Outperform rating.
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