Goldman Sachs Reiterates Buy Rating On Lululemon (LULU)

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.