Sam Boughedda

Investing.com — Lululemon Athletica Inc (NASDAQ:) remains a top pick for Oppenheimer in consumer growth, and eCommerce, Oppenheimer analyst Brian Nagel told investors Friday.

Analysts praised the company and said that they are a preferred play amongst top athleisure brands and a compelling, digitally-enabled manufacturer and seller high-quality, athletic apparel and accessories.

Lululemon continues to have the potential to gain market share.

Nagel has an outperform rating at the moment and $440 target price for the stock.

Although the analyst recognized the negative effects of the current macroeconomic conditions, he said that it was possible to make a shift in the company’s distribution and market strategies. He also noted the benefits of product innovation.

Nagel concluded, “We are confident that the stock will continue to enjoy a strong, if no further, fundamental strengthening,”

Lululemon stocks are up 0.65% Friday