Is LULU a Buy Right Now?
Why is famed investor Michael Burry going long on Lululemon Athletica (NASDAQ: LULU)? The guy who was one of the inspirations for the book and later the film "The Big Short" says it's because the stock for this upscale athletic apparel retailer and manufacturer has been oversold and is now a bargain, according to recent statements in his newsletter, Cassandra Unchained.
Image source: Getty Images.
Whether he's right largely depends on whether you believe in a good comeback. The maker of luxurious leggings and athletic apparel is apparently getting some pushback among consumers for allegedly being elitist, and sales have been slowing for some time. In a time when many consumers are feeling pressure to tighten their purse strings, discretionary spending on goods made by Lululemon suffers.
Source Fool.com
Lululemon Athletica Inc. Stock
Currently there is a rather positive sentiment for Lululemon Athletica Inc. with 59 Buy predictions and 6 Sell predictions.
With a target price of 340 € there is potential for a 108.33% increase which would mean more than doubling the current price of 163.2 € for Lululemon Athletica Inc..
