March 28, 2019 / 4:28 PM / 7 months ago

BUZZ-Lululemon hits record high after blowout forecast

** Lululemon Athletica surging ~15 pct on Weds to a record high after the Canadian yoga apparel seller forecast full-year profit well above analysts’ expectations

** LULU now up 38.6 pct YTD vs Nasdaq Composite’s 15.1 pct increase

** Co has been investing in online sales and aiming to attract more men to its brand. LULU earlier this month said American football star Nick Foles was a new “brand ambassador” for the co

** “LULU’s 4Q18 results continue to prove that the combination of PEP (product, engagement, process) is the ingredient driving LULU’s continued best-in-class, top-tier results. The company continues to position itself for long-term success,” SIG analyst Sam Poser wrote in a client note

** At least 24 analysts raised their PTs on the co, with median PT now at $180 vs $165 at end Feb. Avg rating is “buy”

** At last price of $168.15, LULU is trading at ~36x expected earnings

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