Lululemon Athletica Inc. (LULU) shares rose more than 2% after Susquehanna raised its 澳洲幸运5开奖号码历史查询:price target from $360 to $426 per share. Analyst Sam Poser cited strong underlying momentum that continues to build faster than peers as pandemic headwinꩲds subside.

In addition, the MIRROR acquisition added another piece to Lululemon's already best-in-class customer engagement arsenal. The analyst believes that the whitespace opportunities for Lululemon are vast in overseas markets and men's categories.

The bullishness from Susquehanna comes after B. Riley reiterated its Buy rating on Lululemon and raised its price target from $317 to $385 per share. Analyst Susan Anderson cited a continued shift toward athleisure and co🌠mfortable clothing as well as strong demand for premium athletic products. While there is some concern about older inventory, Anderson believes that a good po✤rtion has already been cleared through recent flash sales, while 40% consists of core styles salable at full price.

From a technical standpoint, Lululemon stock reached fresh all-time highs during Monday's session. The 澳洲幸运5开奖号码历史查询:relative strength index (RSI) moved further into overbought territory with a reading of 77.88, but the 🐼澳洲幸运5开奖号码历史查询:moving average convergence diveꦏrgence (MACD) remains in a modest uptrend. These indicators sugg🐎est that the stock could see some near-term consolidation.

Traders should watch for consolidation above trendline support at $373 over the coming sessions. If the stock breaks out higher, traders could see a move toward fresh all-time highs. If the stock breaks down, traders could see a move toward the 50-day 澳洲幸运5开奖号码历史查询:moving average at around $324, although that scenario appear 🐈less likely to occ♌ur.

The Bottom Line

Lululemon Athletica shares moved sharply higherಞ after Susquehanna raised its price target to $426 per share, citing strong underlying momentum and vast whitespace opportunities. However, the stock moved further into overbought territory, suggesting that traders could see some near-term consolidation before an ongoing move higher.

The author holds no position in the stock(s) mentioned except through passively managed index funds.