Buy Lululemon as the athleisure brand is well-positioned to ride a recession, Morgan Stanley says
Analyst Kimberly Greenberger upgraded the stock to overweight from equal weight, saying in a note to clients that risks are already priced into the athleisure brand. She added that the stock is trading at a discount relative to its historical valuation. "We have long been structurally bullish on the business, & had been looking for valuation pullbacks as potential opportunities to become more constructive," Greenberger said.
Meanwhile, the company's sway toward higher-end consumers cushions it from inflation that's eating into many consumers' pockets. Greenberger noted this very trend makes the stock more resilient and gives it pricing power in the current macroenvironment. Shares of Lululemon have pulled back more than 46% from an all-time high in November 2021 and are trading down 26.5% this month.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Piers Morgan urges America to 'stop partisan bulls***' after school massacrePiers Morgan has condemned the shootings in Texas which as left 21 people dead and has urged the United States to 'do something to stop' future similar tragedies
Lire la suite »
Exclusive: Morgan bosses detail ambitious growth plans | AutocarNew CEO says maintaining firm’s values and courting younger buyers will fuel growth
Lire la suite »
VC funding to help crypto avoid a long winter post-Terra's collapse: JP MorganThe report by JP Morgan also noted that Terra's collapse had a limited knock-on effect on the rest of the DeFi ecosystem.
Lire la suite »
‘Bel-Air’ Director Morgan Cooper’s Life Was Turned Around By A Three-And-A-Half Minute YouTube Video — Deadline DisruptorsInspiration can come from the most unanticipated places, like walking the dog in the park or buying a soft pretzel at the mall. For Morgan Cooper, it came in 2019 while driving down Route 71 in Kan…
Lire la suite »