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Investing.com - BNP Paribas Exane upgraded Lululemon Athletica Inc. (NASDAQ:LULU) from Underperform to Neutral on Monday, setting a price target of $146.00. The company, currently trading at $176.11, maintains impressive gross profit margins of 59.1% and a healthy P/E ratio of 11.89.
The upgrade comes after Lululemon shares have fallen approximately 65% since BNP Paribas Exane’s previous downgrade in February 2024, with InvestingPro data showing a YTD decline of 56.22%. According to InvestingPro’s Fair Value analysis, the stock appears undervalued at current levels, with analyst targets ranging from $100 to $303.
BNP Paribas Exane identified the American Express Platinum partnership as a potential positive catalyst for Lululemon that might not be fully captured in high-frequency data tracking the company’s performance.
The research firm also highlighted potential "founder-led activism" from Anamered as another factor that could influence the company’s direction moving forward.
The firm noted that most Wall Street analysts had already "capitulated" on the stock, indicating that negative expectations are largely priced into Lululemon’s current valuation.
In other recent news, Lululemon Athletica Inc. has faced a series of analyst assessments and changes in stock ratings. Bernstein downgraded Lululemon from Outperform to Market Perform, lowering its price target to $190, due to concerns over a delayed product renewal strategy now set for Spring 2026. Meanwhile, Bernstein also reiterated an Outperform rating with a $220 price target, acknowledging plans for significant product changes in 2026. BTIG maintained its Buy rating and $303 price target, highlighting potential improvements in execution as they prepare for investor meetings with Lululemon’s executives.
Jefferies reiterated its Underperform rating with a $150 price target, pointing to challenges in the Greater China region, including declining revenue and weak store traffic. Morgan Stanley reduced its price target to $185 from $223, maintaining an Equalweight rating, after Lululemon’s second-quarter results revealed unexpected performance issues and a larger-than-anticipated guidance reduction for the fiscal year. These recent developments indicate varied analyst perspectives on Lululemon’s future, with some firms expressing concerns over product strategy and international growth, while others see potential for improvements.
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