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Lululemon Athletica (LULU) Price Target Raised at KeyBanc

NEW YORK (TheStreet) -- Lululemon Athletica's (LULU) price target was raised to $85 from $80 with an "overweight" rating at KeyBanc this morning.

"Accelerating innovation should continue to drive strong top-line momentum," the firm wrote. "LULU has one of the strongest brands in our coverage, we believe."

After meeting with senior executives at the company, the firm believes that new product launches under Creative Director Lee Holman (appointed in October 2015) will drive "solid comp momentum." Holman's first collection will be launched in late August and is expected to be...