Lululemon price target lowered to $546 from $610 at Barclays

Barclays lowered the firm’s price target on Lululemon to $546 from $610 and keeps an Overweight rating on the shares. The company reported a solid Q4 beat but its fiscal 2024 guidance showed below-algorithm growth led by a slowing in the Americas geography with a softer than expected start to Q1, the analyst tells investors in a research note. The firm reduced the stock’s multiple to account for the sales slowdown in the U.S.