07:55 AM EDT, 06/06/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our 12-month price target by $115 to $435, 30.0x our FY 25 (Jan.) EPS estimate and below the company's 5-year average forward P/E multiple of 42.2x. We maintain our FY 25 EPS estimate of $14.50 and initiate our FY 26 EPS estimate at $17.00. LULU posts normalized Q1 EPS of $2.54 vs. $2.28, $0.14 above consensus estimates on revenues of $2.21B vs. $2.00B and $12M above estimates. By region in Q1, Americas revenue increased 3% Y/Y and International revenue increased 35%. Q1 adjusted gross margin expanded 20 bps to 57.7%. LULU raised its full-year EPS guidance to a range of $14.27 to $14.47 and also raised its share buyback program by $1B and now has $1.7B remaining. Although the company is experiencing growth deceleration in the Americas, we continue to believe LULU is the top player in apparel retail and expect a reacceleration in growth across the Americas and continued success in China (+45% in Q1) and internationally. Comp sales across its international segment increased 25% Y/Y in Q1.