Why Shares of Lululemon Athletica Are Stretching Upward Today

Shares of upscale yogawear retailer lululemon athletica (NASDAQ: LULU) were rising on Friday, after a Citigroup analyst upgraded the stock and said that Lululemon is likely to do well once the coronavirus pandemic fades.

As of noon EDT, Lululemon's shares were up about 11.2% from Thursday's closing price.

In a note on Friday morning, Citigroup analyst Paul Lejuez upgraded Lululemon to buy, from neutral, with a price target of $190 per share. Lejuez called Lululemon a "stand out" among battered retail stocks, with a "rock solid" balance sheet and a compelling long-term growth story that remains intact. 

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Source Fool.com