Analysts Eye Retailers After Earnings Results

Lululemon's current-quarter forecast is weighing on the shares today

Deputy Editor
Dec 9, 2022 at 10:59 AM
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As quarterly results continue to roll in, two retail stocks are in the spotlight today. Both Lululemon Athletica Inc (NASDAQ:LULU) and Costco Wholesale Corporation (NASDAQ:COST) reported earnings, and plenty of analysts are chiming in on both after the events.  

Lululemon Stock Plummeting

Though Lululemon reported better-than-expected third-quarter results, the company's current-quarter forecast is weighing on the shares today, with LULU down 10.6% to trade at $334.25 at last check.

No fewer than six analysts raised their price targets, however. J.P. Morgan cited untapped opportunity internationally, raising its price objective to $440 from $414, while Piper Sandler noted that the stock is still well-positioned heading into the holiday quarter due to "brand heat" and inventory availability, and hiked its price target to $390 from $350. LULU also received no fewer than three price-target cuts, though the lowest was from UBS to $390 -- still a hefty premium to current levels. 

COST Named "Best Idea" Despite Earnings Miss

Costco stock is inching lower, down 0.2% at $480.60 after the discount retailer's fiscal first-quarter earnings and revenue missed estimates. The company, which also saw an increase in operating expenses, cited inflation denting demand.

No fewer than eight analysts chimed in with price-target cuts, with the lowest from Wells Fargo to $450 from $490. The shares did receive some good news, however, as Cowen named COST a "best idea" for 2023. Year-to-date, the equity is down 15.3%. 


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