Lululemon price target lowered to $394 from $445 at Barclays

Barclays analyst Adrienne Yih lowered the firm’s price target on Lululemon to $394 from $445 and keeps an Overweight rating on the shares. The analyst sees ongoing risk to first half of 2023 estimates for the specialty retailers, in particular those with negative year-over-year sales. At retail, the risk is shifting from inventory pressure to sales deleverage, Yih tells investors in a research note. She calls Burlington her top pick for 2023.