TD Cowen analyst John Kernan lowered the firm’s price target on Lululemon to $375 from $420 and keeps a Buy rating on the shares. The firm said lululemon maintains a leading position and management has multiple levers around design, materials innovation, marketing, strategy and capital allocation. Needs include an improved store experience and product quality. 2H EPS could be cut, but buyside bar of $13.50 to $13.75 appears too bearish.
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