Lululemon price target raised to $215 from $200 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Lululemon (LULU) to $215 from $200 and keeps a Market Perform rating on the shares. While Q3 results were “solid” and beat expectations, these results came against moderated expectations following disappointing Q3 guidance released earlier, the analyst tells investors. In the near-term, Telsey believes the $1B increase to its share price program should support the stock. The firm notes, however, trends have slowed, the U.S. business remains soft, and operating margin pressures are expected to persist into next year.