Shares of apparel company Lululemon Athletica (NASDAQ: LULU) shot up on Friday after the company provided a solid financial report for its third quarter of 2024 and raised its full-year guidance. As of 3 p.m. ET, Lululemon stock was up 16%.

It's been a good earnings season for apparel stocks, generally speaking, but I don't wish to take anything from Lululemon. Its Q3 report was strong, showing a 9% year-over-year increase in revenue, which hit $2.4 billion. For its part, management expected revenue closer to $2.3 billion.

The financial report from Lululemon was praised by most in the professional analyst community, with many increasing their price targets for the stock. When this happens, investors tend to pay attention.

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Source Fool.com