Company News

BUZZ-Lululemon Athletica: Set for record high on robust Q4

** Canadian athletic apparel maker up nearly 7 pct at $84.05 on surprisingly strong Q4 profit, Q1 forecast

** Stock set to open at record if current gains hold

** At least 10 brokers raise PT on stock

** LULU’s com growth in Q4 was best across retailers despite tough yr/yr comps and numerous retailers reporting their strongest quarter in years - Deutsche Bank

** Jefferies sees a further growth opportunity, as product and digital initiatives take hold and the international growth story continues; however, valuation already reflects a lot of these prospects, so brokerage maintains “hold” rating

** RBS says LULU’s momentum is “enviable” with Q4 beat, strong Q1 forecast, and beatable FY18 outlook

** 18 out of 31 brokers rate stock “buy’ or higher, 12 “hold and 1 “sell”; median PT at $90

** LULU up marginally this year (Reporting by Medha Singh in Bengaluru)