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Lululemon Moving Notably Higher On Upgrade By Citi

After gapping open higher, shares of Lululemon Athletica Inc. (LULU) have seen some further upside during trading on Wednesday. Lululemon is currently up by 5.1 percent, climbing further off the six-month closing low set last Friday.

The continued rebound by Lululemon comes after Citi upgraded its rating on the athletic apparel maker to Buy from Neutral.

According to a report from CNBC, Citi noted even winning brands have been taken down on fears of a macroeconomic slowdown but said Lululemon has improving fundamentals and standout growth prospects.

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