Wall Street Action after Lululemon’s Guidance Update
As we discussed already in this three-part series, Lululemon Athletica (LULU) recorded strong holiday sales recently, which prompted the company to raise guidance on January 8. Sportswear peers Nike (NKE) and Columbia Sportswear (COLM) also recorded solid gains in 2017. Lululemon’s price target was lifted by Stifel and Suntrust Robinson after the company raised guidance for the upcoming quarter.