Those of you who read me regularly are pretty aware of how I feel about sell-side brokerage firm analysts and their calls. I spent 8 or 9 years allowing these clowns to whip me around before I finally caught onto the game.
But I’m always happy when they agree with me 🙂 Last night I explained the How and Why of my most recent buy into lululemon ($LULU) after an earnings “disappointment” (see: lululesson). This morning three firms came out falling all over themselves to upgrade LULU, they see an opening to stop with that ridiculous “neutral” or “equalweight” nonsense and they’re taking it…
From 24/7 Wall Street:
Barclays raised its rating to OVERWEIGHT from EQUALWEIGHT and it assigned a $58.00 price target objective. Janney Capital Marketshas raised the rating to BUY from NEUTRAL and it assigned a fair value target of $57.00 per share. KeyBanc Capital Markets also raised its rating to BUY from UNDERWEIGHT and assigned a price target objective of $58.00 per share.
I have more shares to buy but would not be adding up here at 50 for the time being – I’ll let the next market calamity provide me with a better buying opp.