Shares of Lululemon Athletica (LULU) opened higher this morning following an upgrade of the stock to "Buy" from "Hold" with a $60 price target at Stifel.
Stifel analyst Jim Duffy sees continued opportunity for Lululemon to improve its fundamentals.
He also sees upside potential driven by the company achieving its 2020 objectives which, if achieved, could double its stock price in 2 years. He also noted that the merchandising/eCommerce deficiencies are fixable.
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