Lululemon price target lowered to $368 from $394 at Barclays

Barclays lowered the firm’s price target on Lululemon to $368 from $394 and keeps an Overweight rating on the shares. The firm expects a relatively in-line Q4 given Lululemon’s update in January. Inventory will be the focus with end-of-quarter projected to be up 60% year-over-year, Barclays said, adding that it is lowering its estimates as sector checks show worsening promo, traffic, and sales trends.