By  on May 13, 2014

Shares of Lululemon Athletica Inc. were heavily traded on Tuesday — surpassing its three-month average volume — on speculation that it could become a takeover target for VF Corp.

A report from International Strategy & Investment analyst Omar Saad, who upgraded VF Corp. to a “buy” from “neutral” and raised the target price of its shares to $75 from $65, suggested that Lululemon could be a potential takeover target for VF. Saad also cited Puma — currently owned by luxury group Kering — and Lands’ End, which was recently spun off from Sears Holdings, as potential candidates as well.

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