Lululemon's China Comeback, Analyst Sees 60% Q3 Growth

BofA Securities analyst Lorraine Hutchinson reiterated a Buy rating at Lululemon Athletica Inc. LULU with a price target of $355. The analyst says that the data shows that LULU's sales in China have picked up momentum in the third quarter to date, following a slowdown in the second quarter. Notably, Meritco's data shows that Lululemon's China sales increased by 48% in August and 67% in September, with a 98.4% correlation to reported sales. This marks a significant rebound from the second quarter. Although m ...