02:47 PM EST, 11/25/2024 (MT Newswires) -- Lululemon Athletica ( LULU ) is likely to boost its fiscal year 2024 earnings per share outlook due to sales trends that are sequentially improving in Q4 to date and stronger product offerings in women's styles, UBS Securities said in a Q3 earnings preview Monday.

UBS said it believes the athletic apparel company will raise its full-year EPS guidance to $14.08 and $14.18 from a previous outlook of $13.95 to $14.15 and "positively surprise the market."

"We see a slightly favorable upside/ downside skew," the investment firm added. UBS said that investors are split between concerns over weak Q3 US trends and are viewing a pullback as a buying opportunity.

Lululemon is due to report Q3 results on Dec. 5.

The brokerage has a neutral rating on Lululemon's stock with a price target of $315.

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