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Lululemon (LULU) Stock Jumps on Credit Suisse Upgrade

NEW YORK (TheStreet) -- Lululemon Athletica (LULU - Get Report) stock is advancing by 2.44% to $53.80 in pre-market trading on Friday, after the company was upgraded to "outperform" from "neutral" at Credit Suisse.

The firm also increased its price target to $64 from $57 and raised its earnings estimate to $1.92 from $1.90 per share for fiscal 2015 and to $2.48 from $2.24 per share for fiscal 2016.

Demand for Lululemon's athletic clothing is rebounding, which may lead to margins recovering over time, Credit Suisse said in an analyst note.

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"Ultimately, we expect lower reliance on air freight and modest average unit cost reductions to support margin recapture," analysts added.

The company is re-negotiating cost structure with factories and improving its raw material management that will also contribute to its product margin expansion.

Lululemon has also improved its product availability online and its promotional activity...