- Jefferies analyst Randal Konik downgraded Lululemon Athletica Inc (NASDAQ:LULU) to Underperform from Hold and reduced the price target to $200 from $375, implying a 29% downside.
- Konik sees risks to Lululemon’s consensus estimates amidst rising competition and macroeconomic volatility.
- The analyst also said there is likely risk to Lululemon’s sky-high sales per square foot.
- Price Action: LULU shares are trading lower by 3.37% at $283.51 on the last check Monday.
Gold Down Over 1%; US Wholesale Inventories Increase 0.1%
U.S. stocks traded lower midway through trading, with the Nasdaq Composite dropping over 100 points on Monday.
The Dow traded down 0.10% to 33,450.96 while the NASDAQ fell 0.93% to 11,975.59. The S&P 500, also fell, dropping, 0.57% to 4,081.50.
