Jefferies analyst Randal Konik said Lululemon’s Q3 results came in slightly ahead of consensus, as expected, but notes that Q4 sales and EPS guidance were shy of Street expectations at the midpoint and thinks Lululemon will likely have to walk back its long-term projections beyond next quarter as competition rises, end-markets weaken, and industry-wide promos increase. The analyst, who views Q3 as the peak and would recommend selling shares at current levels, has an Underperform rating and $200 price target on Lululemon shares.
Published first on TheFly
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