Lululemon price target lowered to $500 from $520 at Citi

Citi analyst Paul Lejuez lowered the firm’s price target on Lululemon to $500 from $520 and keeps a Buy rating on the shares post the Q4 report. The company’s Q4 China comps of up 60% were impressive, but was overshadowed by a weaker quarter in the U.S. and a further slowing Q1 to-date, the analyst tells investors in a research note. The firm says management’s plan to drive a reacceleration in U.S. growth beginning in Q2 will be viewed skeptically by the market until visibility into a reacceleration is more clear. Citi sees the overhang of a weakening U.S. business weighing on shares in the near term.