The Globe and Mail reports in its Friday, Jan. 5, edition that Piper Sandler's Abbie Zvejnieks has reaffirmed her "overweight" recommendation for Lululemon athletica. The Globe's David Leeder writes in the Eye On Equities column that Ms. Zvejnieks boosted her share target to $560 from $495 (all figures U.S.). Analysts on average target the shares at $495.66. Ms. Zvejnieks says in a note: "Not dissimilar from our thesis last year, we think innovation and newness will drive demand in 2024 amidst a still uncertain macro. Some things to watch this year will be a U.S. wholesale restocking for brands that have seen weak wholesale order books yet strong sell through such as SKX in addition to lower promotional levels as inventory levels become cleaner across the industry. ... Our favorite large cap pick is Lululemon. ... We believe there is an opportunity for Lululemon to raise FY guidance at ICR, which we believe would be a positive catalyst for the stock. Our checks point to strong consumer reception to product across categories, and our promotional tracker is showing sale item growth in line with what we would expect based on management commentary in tandem with lower average percentage discounting year-over-year."