Lululemon weakness a buying opportunity, says Baird

Baird analyst Mark Altschwager said he is a buyer of lululemon on pullbacks following the release of updated FQ4 guidance. The analyst said the near-term setup remains tricky as growth decelerates and gross margin concerns linger. However, he sees current prices as an attractive entry point for long-term investors. Altschwager maintains his Outperform rating and $435 price target on lululemon shares.