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Lululemon Athletica inc. (NASDAQ:LULU) was upgraded by equities researchers at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued on Friday. The firm currently has a $28.00 price objective on the stock, up from their previous price objective of $24.00. Morgan Stanley’s price target would suggest a potential downside of 24.83% from the stock’s previous close.

Lululemon Athletica inc. (NASDAQ:LULU) opened at 37.25 on Friday. Lululemon Athletica inc. has a 52-week low of $37.00 and a 52-week high of $77.75. The stock’s 50-day moving average is $44.53 and its 200-day moving average is $51.42. The company has a market cap of $5.414 billion and a P/E ratio of 23.19. Lululemon Athletica inc. also was the target of unusually large options trading on Wednesday. Stock investors acquired 37,791 put options on the company. This is an increase of approximately 408% compared to the average daily volume of 7,441 put options.

Lululemon Athletica inc. (NASDAQ:LULU) last announced its earnings results on Thursday, June 12th. The company reported $0.13 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.32 by $0.19. The company had revenue of $384.60 million for the quarter, compared to the consensus estimate of $381.21 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. Analysts expect that Lululemon Athletica inc. will post $1.89 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Wedbush downgraded shares of Lululemon Athletica inc. from an “outperform” rating to a “neutral” rating in a research note on Friday. They now have a $40.00 price target on the stock, down previously from $64.00. Separately, analysts at JPMorgan Chase & Co. downgraded shares of Lululemon Athletica inc. from an “overweight” rating to a “neutral” rating in a research note on Friday. They now have a $42.00 price target on the stock, down previously from $56.00. Finally, analysts at Robert W. Baird downgraded shares of Lululemon Athletica inc. from an “outperform” rating to a “neutral” rating in a research note on Friday. They now have a $44.00 price target on the stock, down previously from $60.00. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $50.32.

lululemon athletica inc. is a designer and retailer of technical athletic apparel operating primarily in North America and Australia.

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