Lululemon price target lowered to $120 from $150 at Jefferies

Jefferies analyst Randal Konik lowered the firm’s price target on Lululemon (LULU) to $120 from $150 and keeps an Underperform rating on the shares. Lululemon’s “sky-high” sales per square foot and margins relative to mall average and peers “show substantial downside risk ahead,” says the analyst, who adds that while the Street consensus sees sales growth in 2026, “We don’t!” The firm’s analysis shows Lululemon’s 2026 total sales could fall 5%-15%, with EPS dropping to $9.00 or below, the analyst tells investors.