Sterne Agee Reiterates Neutral Rating on Lululemon Athletica, Awaiting New CEO Announcement

In a report published Wednesday, Sterne Agee analyst Sam Poser reiterated a Neutral rating on Lululemon Athletica (NASDAQ: LULU).

In the report, Sterne Agee noted, “The stock will likely be range-bound until there is more certainty with regards to CEO replacement. It will be much tougher to find an inspired leader that will advance the culture rather than have the skills necessary to make great product. SSS, while still impressive, will not revert to historic levels. Lowering FY13/14 EPS estimates from $2.01/$2.78 to $1.95/$2.56.”

Lululemon Athletica closed on Tuesday at $69.92.