Lululemon (LULU) shares rocketed higher Friday, a day after the athletic apparel company 澳洲🧜幸运5官方开奖结果体彩网:beat third-quarter earnings estimates, and analysts have weighed i🌼n wi🥃th bullish price targets. 

Morgan Stanley said the results, plus an improved full-year 澳洲幸运5官方开奖结果体彩网:forecast from the company, “left little for the bears to point to, with US growth stabilizing [and] women’s and China accelerating." The firm reiterated its "overweight" rating and raised its 澳洲幸运5官方开奖结果体彩网:price target to $414.

Lululemon raised its full-year revenue forecast to between $10.452 billion and $10.487 billion, up from a previous range of $10.375 billion to $10.475 billion.

Analysts Call Lululemon 'Uniquely Positioned' for Growth

Stifel analysts lifted their price target to $438 from $370 and maintained a “buy” rating. That represents a roughly 7% premium after 澳洲幸运5官方开奖结果体彩网:Lululemon shares soared 18% to touch an intraday high o♎f about $408 Friday. 

“We see LULU uniquely positioned at the intersection of secular trends and believe international growth contribution is under-appreciated,” Stifel analysts said in a report Thursday. The company is likely set to “sustain strong growth” by adding new customers and increasing revenue per customer. 

The analysts' optimism comes after 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Calvin McDonald last quarter acknowledged the company's 澳洲幸运5官方开奖结果体彩网:“newness” problem, with fewer seasonally updated products leading to lower conversion ra꧂🌼tes.

Recently, Lululemon ༒shares were up about 16% at $401.52 late Friday afternoon, but they have lost more than a fifth of their va🌄lue in 2024.