Lululemon rises after Bernstein upgrades to 'outperform' on potential recovery in Americas
Shares of athleisure wear maker Lululemon Athletica LULU.O up 1.6% at $401.80 premarket
Bernstein upgrades stock to "outperform" from "market perform", raises PT to $460 from $360
Brokerage says co's Americas business has "bottomed" and is now set for a modest recovery, following growth deceleration last year, maturation of brand in U.S. and increased competition
Sees stronger and new spring 2025 product assortment, easier comparables from weak 2024 and more positive U.S. higher-income consumers aiding the recovery
Cites data to say China is an under-penetrated, high-potential growth market for LULU and relatively immune to macro risk, given co's low market share
20 of 36 brokerages rate stock "buy" or higher, 13 "hold" and three "sell" or lower; with a median PT of $392.50 - data compiled by LSEG
LULU stock fell ~25% in 2024
(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com;))
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