that while JPMorgan acknowledges Lululemon’s continued strength, it sees limited upside at current levels relative to its target, hence the neutral stance rather than a more bullish call. The bank still includes LULU among stocks that could potentially double by 2030, underscoring its long term structural appeal.

Deutsche Bank’s Take And Sector Backdrop Earlier, on January 8 2026, Deutsche Bank reinstated coverage of Lululemon with a Hold rating and a $228 price target as part of a broader reboot of its work on global brands, off price retail, and specialty beauty.

The firm entered 2026 with an optimistic view on the sector, expecting a volatile but broadly “risk on” macro environment, strong revenue trends in the first half, and tailwinds from easier weather comparisons and higher tax refunds.​ That backdrop adds context to Lululemon’s story: it is operating in a category where consumer demand is still resilient, but stock selection and entry point matter as valuations remain elevated across premium athletic and lifestyle names.

Lululemon’s Own Upgraded Guidance Separately, Lululemon has already raised its own Q4 outlook after a better than expected holiday. In mid January 2025,…