TD Cowen analyst John Kernan lowered the firm’s price target on Lululemon to $470 from $488 and keeps an Outperform rating on the shares. The analyst said valuation remains stuck at the lower end of historical ranges on inventory concerns. TD Cowen views Q4 results as a catalyst and think management could issue 2023 EPS guidance that should allay concerns on any structural or competitive changes to the model.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on LULU:
- Analyst Expects LULU to Deliver Better-than-Expected Guidance Post Q4 Earnings
- Citi opens ‘positive Catalyst Watch’ on Lululemon into earnings
- Goldman checks constructive on Lululemon ‘brand heat’ and traffic
- Jefferies says Lululemon policy change shows markdown issues
- Lululemon price target lowered to $430 from $440 at JPMorgan
