12 Best Luxury Stocks to Buy Now

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7. Lululemon Athletica Inc. (NASDAQ:LULU)

Number of Hedge Fund Holders: 42

Lululemon Athletica Inc. (NASDAQ:LULU) is one of the best luxury stocks to buy now. Telsey Advisory reaffirmed a Hold rating on Lululemon Athletica Inc. (NASDAQ:LULU) on January 26, setting a price target of $215.

In another development, BTIG maintained a Buy rating on the stock on January 22, setting a price target of $303.00 and telling investors that it believes the management is responsive to customer feedback and willing to refine launches in real time, corroborated by factors such as the reintroduction of the Get Low collection and the company’s quick adjustments to product messaging and fit guidance. The firm views the issues surrounding sizing and sheerness as execution missteps instead of structural product problems, and believes that customer reception can be improved over time with clearer positioning and better education.

BTIG further expects the spring to be a significant driver for the stock, coinciding with the release of a broader refresh of the company’s assortment and marketing. Lululemon Athletica Inc. (NASDAQ:LULU) plans to meaningfully expand the share of new styles while introducing new core collections, factors that the firm considers some of the key catalysts that investors’ expectations are failing to fully reflect.

Founded in 1988, Lululemon Athletica Inc. (NASDAQ:LULU) is a luxury athletic apparel, footwear, and accessories retailer that sells leisure-athletic wear and accessories such as socks, bags, and yoga mats for fitness activities.

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