Oppenheimer lowered the firm’s price target on Lululemon (LULU) to $380 from $445 and keeps an Outperform rating on the shares ahead of quarterly results. Overall, while the firm expects top-line trends at lululemon remain sluggish, owing primarily to recent merchandising missteps in domestic women’s, it also believes internal dynamics are unlikely to have deteriorated further, and views demand within the athletic apparel and footwear space as largely stable, suggesting Q3 results for Lululemon at least consistent with Street expectations and limited, if any need for another revision lower in FY24 guidance.
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Read More on LULU:
- Lululemon price target raised to $345 from $314 at Morgan Stanley
- Lululemon initiated with a Hold at Needham
- Lululemon price target raised to $380 from $350 at Baird
- Lululemon price target raised to $360 from $310 at Truist
- Deckers Outdoor’s (DECK) Outsized Growth Likely to Continue in Future Quarters
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
