BUZZ-Lululemon Athletica Inc: JP Morgan raises to "overweight"

Fri Jan 23, 2015 9:40am EST
 
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** Canadian yogawear chain's shares up 3.4 pct at $65.92 in early trading

** Analysts at J.P. Morgan Securities raise rating to "overweight" from "neutral"; price target to $75 from $50

** Say Lululemon well-positioned to take advantage of "scarcity of quality growth" across consumer sector

** Analysts say CEO Laurent Potdevin "has stabilized the North American business" and company's methodical multi-year roadmap is now in place

** Of the 37 analysts covering the stock, 15 have "buy" rating or higher, 18 have "hold" and four have "sell"

** Median target has risen by $21 to $65 in two months, according to Thomson Reuters data

** Up to Thursday's close, stock had risen 35.2 pct this year