- 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.
Asia Mixed, Eurozone In Green, Crude Retreats After Monday’s Surge – Global Markets Today While US Was Sleeping
On Monday, October 9, the U.S. stock markets closed higher despite the uncertainty caused by the Hamas-Israel conflict and a spike in oil prices.
The announcement of the conflict incited a surge in oil prices due to supply anxieties. However, lenient comments from Federal Reserve officials helped reverse initial declines in stock indexes.
