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Deutsche Bank Sees Limited Upside Ahead For Lululemon

Although there seems to be “much to like” about Lululemon Athletica inc. (NASDAQ: LULU), its valuation suggests “limited upside ahead,” Deutsche Bank’s Paul Trussell said in a report. He maintains a Hold rating on the company, while raising the price target from $64 to $65.

Lululemon is a strong brand that “appears to be immune to the wider malaise gripping the retail industry,” Trussell mentioned. He added, however, the stock valuation did not seem compelling, and there were uncertainties around the company’s international...