Lululemon drops over Citi downgrade, price target cuts

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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.

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