Lululemon drops over Citi downgrade, price target cuts
Lululemon (LULU) stock tumbles lower ahead of Thursday's market close after analyst teams from Citi and JPMorgan cut their price targets on the athleisure brand: Citi downgraded the stock from Buy to Neutral and cut its price target from $415 to $300 per share; JPMorgan kept its rating at Overweight while slashing its price target lower from $457 to $338.
Julie Hyman and Josh Lipton take a look at these analyst calls referencing certain customer complaints about one of Lululemon's latest product designs.
Lululemon's next earnings results are scheduled for release on Thursday, August 29.
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This post was written by Luke Carberry Mogan.