Lululemon price target raised to $300 from $250 at Jefferies

Jefferies raised the firm’s price target on Lululemon to $300 from $250 and keeps an Underperform rating on the shares. Lululemon is “a strong brand, was a great stock in ’23, and a call we got wrong” last year, the analyst tells investors. The firm believed brand momentum was peaking, but “results proved otherwise,” though Jefferies’ concerns around lofty men’s expectations and a belt bag fad fading “appear to be coming to fruition,” the analyst added.