Truist analyst Joseph Civello lowered the firm’s price target on Lululemon to $310 from $415 and keeps a Buy rating on the shares. The firm cites the company’s confirmation that it has paused sales on the Breezethrough collection that was launched on July 9th following guest feedback that suggested there were issues with the fit/design of the products, though Truist remains positive on the stock given its historically low valuation and robust international momentum, the analyst tells investors in a research note.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LULU:
- SPY ETF Update, 7/26/2024
- Lululemon (NASDAQ:LULU) Sinks 7% amid Citigroup Downgrade, Decline in Athleisure
- Lululemon downgraded, Birkenstock upgraded: Wall Street’s top analyst calls
- Lululemon confirms pause of Breezethrough yoga wear to Bloomberg
- JPMorgan cuts Lululemon target, removes from Analyst Focus List