** Shares of athleisure wear maker Lululemon Athletica LULU.O up 1.6% at $401.80 premarket
** Bernstein upgrades stock to "outperform" from "market perform", raises PT to $460 from $360
** Brokerage says co's Americas business has "bottomed" and is now set for a modest recovery, following growth deceleration last year, maturation of brand in U.S. and increased competition
** Sees stronger and new spring 2025 product assortment, easier comparables from weak 2024 and more positive U.S. higher-income consumers aiding the recovery
** Cites data to say China is an under-penetrated, high-potential growth market for LULU and relatively immune to macro risk, given co's low market share
** 20 of 36 brokerages rate stock "buy" or higher, 13 "hold" and three "sell" or lower; with a median PT of $392.50 - data compiled by LSEG
** LULU stock fell ~25% in 2024
(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com;))
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