LLL

I just saw this on the Globe website:

BMO starts LULU at 'market perform'
Leonard Zehr, today at 10:32 AM EDT

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Still in La La Land is lululemon athletica inc., with the stock trading at 80 times forward price/earnings, which along with the enterprise value-to-EBITDA, are the highest relative to its North American athletic apparel peers.
BMO Nesbitt Burns analyst Adam Clark voices an opinion being heard in more step-classes, specifically that the market is “looking well past the next couple of years and paying for many years of continued high growth.”
He began coverage of the stock at "market perform,” saying that under a base-case discounted cash flow analysis, he figures the stock is worth $29.54 (U.S.), well below current levels, while under an aggressive scenario, the value rises to $48.48.
On the Nasdaq Wednesday morning, lululemon has eased 1.4 per cent to $49.35, which is slightly above his aggressive numbers crunching.
While the stock could be doing deep-knee bends on any dip in the growth line, he suggests the company should be able to maintain a premium valuation, “given the momentum in its operations and the high probability of positive news to come out of the company over the next three-to-six months.”