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Lululemon Athletica Inc. (NASDAQ:LULU) shares are trading higher Friday as the stock attempts to recover some of the week's losses following a slew of price target reductions from analysts.
The Details:
Lululemon shares fell 9% Thursday as investors digested a slew of analysts' downgrades and price reductions.
Notably, Citigroup downgraded Lululemon from Buy to Neutral and lowered the price target from $415 to $300, and JPMorgan analyst Matthew R. Boss slashed his price target from $457 to $338 and removed the stock from his Analyst Focus List.
Boss pointed to paused sales of the company's newly launched Breezethrough collection as a significant "execution concern." The Breezethrough line was expected to drive growth in Lululemon's women’s leggings category through the second half of 2024.
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Several other analysts updated coverage on Lululemon this week:
Lululemon’s most recent earnings report included lower-than-expected revenue growth and cautious guidance for the upcoming quarters. According to data from Benzinga Pro, Lululemon will report its second-quarter results towards the end of August with an exact date not yet confirmed.
An investor or trader's decision to buy or sell a stock is unique to their time horizon and risk tolerance. Many typical investors evaluate earnings growth and valuation on a particular stock before making a decision.
There are many different valuation metrics that may help you make a decision. Find more on Lululemon Athletica's quote page, or if you'd like a deeper dive in an advanced program, try Benzinga PRO for free.
LULU Price Action: According to Benzinga Pro, Lululemon Athletica shares are up 3.7% at $256.48 at the time of publication Friday.
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Image: Courtesy of Lululemon Athletica, Inc.
Posted In: LULU
