BofA lowered the firm’s price target on Lulu’s Fashion Lounge to $3 from $7.80 and keeps a Neutral rating on the shares. The firm is now modeling FY23 sales to be down 6% and its lower target reflects lower estimates, a weaker outlook, and aligning the multiple with "peers facing similar pressures."
Published first on TheFly
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Read More on LVLU:
- Lulu’s Fashion Lounge price target lowered to $3 from $11 at Piper Sandler
- Lulu’s Fashion Lounge price target lowered to $4 from $5 at BTIG
- Lulu’s Fashion Lounge sees FY23 revenue $410M-$430M, consensus $459.6M
- Lulu’s Fashion Lounge reports Q4 EPS (14c), consensus (11c)
- Lulu’s Fashion Lounge price target lowered to $5.50 from $7.00 at Baird
