BUZZ-Street View: Lululemon's upbeat forecast, Q3 results lift confidence

Reuters12-06

BUZZ-Street View: Lululemon's upbeat forecast, Q3 results lift confidence

** Canadian athletic wear maker Lululemon LULU.O on Thursday raised its annual sales and profit forecasts on strong holiday season and international sales

** At least 12 brokerages raise PTs on stock

** Shares rise nearly 9% to $375.53 premarket

HOLIDAY DEMAND, NEWNESS DRIVE SALES GROWTH

** Brokerages highlight strong holiday sales expectation, newness in coming quarters and good international demand

** Barclays (equal weight, PT to $425) believes some of the holiday momentum could continue into the spring season due to missteps in Q1 of 2024 and comparatively higher sales in the quarter next year

** Telsey Advisory Group (outperform, PT to $430) says that LULU's Q3 results, strong sales domestically and internationally as well as newness in Q1 2025 improve confidence

** Piper Sandler (Neutral, PT: $340) says company sounds positive on the new design team's ability to chase novelty, remains to be seen how the new product resonates come 2025

(Reporting by Aamir Sohail in Bengaluru)

((Aamir.Sohail@thomsonreuters.com;))

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