lululemon updated June 1, 2024

lululemon is updated adn rated (higher) Buy at $312. It’s a high quality company. It’s growth is lower now than its historic torrid pace but it looks to be attractively prices.

Last year on September 9 I updated it and rated it Speculative Buy at $396 and noted it looked expensive and that I would like it better under $350. Subsequently it got as high as $516 in early December. But it later declined to about $294 on a weaker outlook. The company is projecting earnings growth in the 10% range. It’s certainly possible that consumers will cut back on this relatively expensive clothing store. The stock has since recovered slightly to $312. They will release earnings on Wednesday and the stock could rise or fall. I intend to add to my small position in this stock on Monday.

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