Cowen & Co. Keeps a Buy Rating on Lululemon Athletica Inc

By Carrie Williams

In a report released yesterday, Oliver Chen from Cowen & Co. reiterated a Buy rating on Lululemon Athletica Inc (NASDAQ: LULU), with a price target of $78. The company’s shares closed yesterday at $67.66.

According to TipRanks.com, Chen is a 4-star analyst with an average return of 3.0% and a 54.2% success rate. Chen covers the Services sector, focusing on stocks such as Restoration Hardware Holdings Inc, Signet Jewelers Limited, and Air Transport Services.

Currently, the analyst consensus on Lululemon Athletica Inc is Moderate Buy and the average price target is $67, representing a -1.0% downside.

In a report issued on November 30, Susquehanna also assigned a Buy rating to the stock with a $71 price target.

Based on Lululemon Athletica Inc’s latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $581 million and quarterly net profit of $48.71 million. In comparison, last year the company earned revenue of $544 million and had a net profit of $68.29 million.

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Lululemon Athletica, Inc. designs and retails athletic apparels primarily in North America and Australia. It offers a line of apparel and accessories, including fitness pants, shorts, tops and jackets designed for athletic pursuits such as yoga, running and general fitness.