Lululemon Athletica's (NASDAQ:LULU) Sales Estimates Boosted on Comp Sales

Citing a 28 percent increase in comparable-store sales for Lululemon Athletica (NASDAQ:LULU), FBR raised their sales estimate on the company for the fourth quarter.

FBR says, "We are raising our 4Q sales estimate to $238.3 million to reflect 28% comparable-store sales on a constant dollar basis and a 7% currency benefit for the quarter. We are raising our 4Q EPS estimate to $0.57 from $0.48. Our CY10 EPS estimate was raised to $1.51 from $1.42. Our CY11 EPS estimate was also raised to $1.91 from $1.80."

FBR Capital maintains a "Market Perform" on Lululemon Athletica Inc., which closed Wednesday at $72.85, gaining $5.61, or 8.34 percent. FBR raised their price target on LuLu from $63 to $70.