FTR was looking for a bottom and found it on the fib 2.618 extension at $1.95. 20% upside on a bounce to $2.67. Fundamentally, expectations are too low for Q1, after numerous one-time items caused Q4 metrics to strike fear in the market and even the analyst at GS. The GS downgrade created the capitulation bottom at $1.95. (Note: the preferred shares FTRPR...
$51 BUY with $49.95 Stop and ST target bounce back to $54.50 resistance ant MT target $59.75. Fundamental investors will back up the truck at $46 (20x $2.30 EPS), which provides solid underpinning. LULU always gives conservative guidance, setting up for 2017 upside surprises for longer-term investors.
