NEW YORK (TheStreet) -- Lululemon (LULU - Get Report) has had its price target increased to $52 from $46, UBS said Friday. The firm said positive double-digit comps, above-plan performance in new stores and probable acceleration in international growth contributed to its price target revision. UBS kept its "neutral" rating.
For its fourth quarter ended Feb. 2, the specialty apparel retailer reported net revenue 7% higher to $521 million, while comparable store sales over the quarter decreased 2%.
Net income of $109.7 million, or 75 cents a share, was largely on par with profits of $109.4 million, or 75 cents a share, a year earlier.
Analysts surveyed by Thomson Reuters forecast net income of 72 cents a share and sales of $515.11 million.
Separately, TheStreet Ratings team rates LULULEMON ATHLETICA INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate LULULEMON ATHLETICA INC (LULU) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and weak operating cash flow."
- You can view the full analysis from the report here: LULU Ratings Report