Is Lululemon About to Shoot 12% Higher?
Most yoga studios and health clubs remain closed. Regardless, investors are flocking to buy shares of athleisure-wear specialist lululemon athletica (NASDAQ: LULU), to the point where the shares hit an all-time high on Friday.
Analyst Matthew McClintock of Raymond James thinks they could go even higher. On Friday, he significantly lifted his target price on the stock to $335 per share from the previous $250. The new level is nearly 12% above the latest closing price.
Image source: lululemon athletica.
Source Fool.com