Telsey Advisory Group analyst Dana Telsey reiterated an Outperform rating on Lululemon Athletica Inc. (NASDAQ:LULU), with the unchanged price target of $450.
Despite significant growth over the past two years, Lululemon continues to see strength in its accessories business, notably bags. Accessories rose 67% and 44% YoY in 1Q23 and 2Q23, respectively, following meaningful growth in 2021 and 2022.
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