Lululemon Athletica inc. (NASDAQ: LULU) is having a pretty strong start to the day today, and for good reason. The stock was the center of attention in a recent analyst upgrade. This sparked excitement in investors and led to gains, which ultimately prompted our partners at Trade Ideas to alert us to the trend. At the moment (9:16), LULU is trading at $52.56 per share after a gain of $0.86 per share or 1.66% thus far today.
Stifel Upgrades LULU
As mentioned above, Lululemon Athletica is having a strong start to the day today in the pre-market. The gains are ultimately the result of an analyst upgrade. Early this morning, Stifel announced that it has upgraded the stock to a Buy rating. The analyst also increased the price target on LULU to $60. Of course, this led to excitement, causing gains in the stock!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on LULU. In particular, we’ll be watching analysts as we tend to see a domino effect with upgrades. Also, we’re keeping a close eye on the company’s continued innovation in apparel. Nonetheless, we’ll continue to follow the stock closely and bring the news to you as it breaks!
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