Lululemon price target raised to $176 from $110 at Wedbush.
Wedbush analyst Jen Redding raised her price target for Lululemon to $176 from $110 after meeting with management. The analyst highlights that CEO Calvin McDonald earned Glassdoor's Highest Rated CEO Award in the most recent three and notes that research shows the link between high CEO approval ratings and company financial performance. Redding also sees upside opportunity in revenue and product margin over the long-term driven by investment in data analytics, with meaningful gains on the guest side soon led by personalization, with opportunity in merchandising as predicative capabilities begin to inform merchants. The analyst reiterates a Neutral rating on the shares.