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Benzinga

Business

Shivani Kumaresan

Morgan Stanley Upgrades This Athletic Apparel Retailer - Read Why

LULU (Organization) Morgan Stanley Lululemon Lululemon Athletica Inc Nasdaq

Morgan Stanley analyst Kimberly Greenberger upgraded Lululemon Athletica Inc (NASDAQ:LULU) to Overweight from Equal Weight. The analyst reduced the price target from $339 to $303, implying a 16.24% upside.
Though Lululemon is trading at a discount versus history, the analyst opined that risks seem priced in, and the business could prove more resilient.
The analyst calls Lululemon a long-time compounder.
Price Action: LULU shares are trading higher by 4.31% at $271.90 in premarket on the last check Thursday.

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