Evercore ISI downgraded Lululemon (LULU) to In Line from Outperform with a price target of $180, down from $265. The says the list of the company’s deteriorating key performance indicators is growing post the fiscal Q2 report. Several of Lululemon’s important KPIs “step-changed lower relative to what we expected,” the analyst tells investors in a research note. Evercore notes the company’s U.S. and Canada sales decelerated further while the China outlook was lowered. In addition, the removal of the de minimis tariff exemption is a “far, far bigger issue” than anticipated, notes the firm.
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Read More on LULU:
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