Lululemon gets an analyst boost
Shares were up slightly after a Wedbush upgrade. Can it reach its turnaround aspirations this year?
Now, however, with the valuation at a more reasonable level, new leadership for the company, and its continued brand strength, Jason is beginning to see opportunity here.
The stock has been beaten up recently for a number of reasons, including the defective material used that caused some of the company's yoga pants to be transparent in some situations, as well as the difficult retail environment over this holiday season that caused many retailers to struggle.
Despite these short-term stumbling blocks, Jason still sees a long growth story here ahead.
Still, there will be things to watch for. While the leadership change was a positive one, Jason wants to see the company keeping its focus on its plan for the future. He'll be looking for the company to build out its product offerings and become more things to more people, but if the company can continue to do that, he sees Monday's price as a fair entry point for a stock that has long been a bit too expensive.
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'We're not exactly in a uniformly strong market,' says the notably pessimistic newsletter publisher.
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