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Lululemon Stock Gears Up for a Massive Comeback Rally 
For a stock that once rallied hand-in-hand with tech stocks, even though it’s essentially a fashion brand, Lululemon Athletica Inc’s (NASDAQ: LULU) current fall from grace must be a tough one for investors. Through the golden years of 2020 and 2021, shares of the Vancouver headquartered company sometimes outpaced even the likes of Alphabet Inc (NASDAQ: GOOGL). However, while effectively all equities suffered during 2022 and most of 2023, Alphabet and many of its tech titan peers have gone on to rally back to all-time highs in the past year. It’s true that Lululemon's shares managed to ride the initial wave of optimism that swept equity markets last November, but they have been struggling hard since January. They’re down 50% for the year to date, far exceeding the 10% that shares of Macy’s Inc (NYSE: M) have lost—a rough comparison to take if ever there was one. You see, thanks to one unique investor's brand new discovery - anyone with a regular brokerage account can now tap into the most explosive asset in history!
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The next day, my system would have alerted me that Ross Stores had entered the 72-Hour Profit Surge… Click here now to get all the details. Why Wall Street Is Turning Bullish on Lululemon It looks like Wall Street is already starting to act on this basis, with the stock having already jumped nearly 15% in the past two weeks. Lululemon’s MACD reading, a popular technical indicator, also just had a bullish crossover last week, which suggests momentum has firmly swung to the bulls for now. There’s also the fact that at just $258, Lululemon shares are trading considerably lower than every single analyst price target made this year. Even the two recent updates from Goldman and Citi, which saw the stock being cut to a Neutral rating, included fresh price targets of $286 and $300, respectively. Robert W. Baird reiterated their Outperform rating at the end of July and gave Lululemon shares a price target of $350, while TD Cowen did the same, only with a refreshed price target of $420. That’s pointing to a targeted upside of potentially 60%, which only bolsters the argument that we’re looking at a seriously oversold stock that’s on the verge of kicking off an eye-watering recovery rally. Written by Sam Quirke Read this article online › Featured Articles: | 
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