Jefferies raised the firm’s price target on Lululemon (LULU) to $200 from $170 and keeps a Hold rating on the shares after WSJ reported activist investor Elliott Management has built a sizable stake in the apparel retailer. The firm, which believes a refreshed board, a “thoughtful CEO with real leadership,” and a return to the company’s roots are “critical,” argues that change will be “a multi-year lift” that is “not easy,” but it supports the founder’s push and activism.
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Read More on LULU:
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