Lululemon Stock Jumps on Institutional Buying Ahead of Earnings Report
Lululemon's stock price rose by 4.4% on Friday to $120.07, despite lower-than-average trading volume.
The increase may be attributed to institutional buyers, including OMERS Administration Corp and Algert Global, which have disclosed new positions in LULU.
Despite the earnings beat, analysts remain cautious with an average price target of $148.38 and a consensus rating of 'Reduce'.