It's time for investors to buy shares of Lululemon Athletica, according to Wells Fargo.
It's time for investors to buy shares of Lululemon Athletica , according to Wells Fargo. Analyst Ike Boruchow upgraded the athletics apparel and accessories stock to overweight, calling the it a defensive and "rare name with momentum" poised to outperform on the top line this year.
Boruchow said that Lululemon's valuation looks reasonable and offers a "compelling entry point" for investors, with multiples trading well below their historic average over the past few years. He also cited easing freight pressures and better margin visibility as another catalyst for Lululemon going forward.
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