Analysts at Deutsche Bank provided their key takeaways from Lululemon Athletica Inc. (NASDAQ:LULU) investor day, which detailed a long-term strategy of the company, including a 15% revenue CAGR through 2026, modest EBIT margin expansion, and EPS growing faster than revenue.

Overall, the analysts believe the company’s long-term outlook was in line with buy-side expectations as it points to a low-teens CAGR starting in 2023.

The company exceeded its previous plan – meeting targets two years early and delivering a 24% revenue CAGR over the last three years, leading the analysts to believe there is likely upside.

According to the analysts, the company’s outlined plan is focused on product innovation allowing franchise building, product extensions that create credibility around new categories as well as providing a halo effect around core product, and a community-led customer experience driven by membership and enhanced by the Lululemon Studio.

The analysts raised their price target on the company’s shares to $428 from $423, while maintaining their buy rating.