Lululemon's China Comeback, Analyst Sees 60% Q3 Growth
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 04 2024
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Source: Benzinga
Analyst Rating and Sales Growth: BofA Securities analyst Lorraine Hutchinson maintains a Buy rating for Lululemon Athletica with a price target of $355, citing a significant rebound in China sales, which increased by 48% in August and 67% in September, contributing to an estimated 60% growth for the quarter.
Long-term Growth Strategy: Lululemon aims for a fourfold increase in international revenue by 2026, with China being a crucial component, currently accounting for 13% of total revenues and showing consistent growth year-over-year.
Analyst Views on BUL
Wall Street analysts forecast BUL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BUL is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 57.270
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
