Goldman Sachs GS reiterated their BUY rating and $46 price target on shares of Lululemon Athletica LULU today. The company announced today that it has significantly increased its equity stake in its Australian joint venture to 80% from 13%.
Goldman analysts wrote that the move, "verifies the brand's viability and management's operating acumen beyond this continent, opening the doors to a bigger global growth opportunity."
During the current trading session, LULU shares have lost 3.29% to $41.70. Lululemon Athletica inc. is a designer and retailer of technical athletic apparel primarily in North America. Its yoga-inspired apparel is marketed under the Lululemon Athletica brand name.
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