** Shares of athleisure wear maker Lululemon Athletica LULU.O up ~1.7% at $399.50 premarket
** Brokerage Needham upgrades stock to "buy" from "hold", with a PT of $475
** Says LULU appears to have had a strong holiday season, even as co guided Q4 very conservatively due to the compressed holiday season, helping co outperform its guidance
** Believes co will partially raise guidance at ICR conference next week while leaving room to potentially beat when reporting full Q4 results
** Sees low tariff risk as only 2% of LULU's sales base is made in China and imported to the U.S.
** 20 of 36 brokerages rate the stock "buy" or higher, 13 "hold" and three "sell" or lower; with a median PT of $389 - data compiled by LSEG
** LULU fell ~25% last year
(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com;))
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