2024-07-16 10:15:00 ET
Talk about a fall from grace. The once high-flying athletic apparel retail stock Lululemon Athletica (NASDAQ: LULU) is down a queasy 43% year to date. The slowing revenue growth rate the company revealed in its first-quarter earnings report spooked many investors, and quite a few remain on the sidelines.
Among Lululemon's bears is one analyst who cut his price target on the specialty retail stock from his already low level. Was this deserved, or are the shares currently oversold?
The prognosticator wielding the pair of scissors was Jefferies ' Randal Konik. He reduced his Lululemon fair value assessment to $220 per share from his previous level of $240. In doing so, he maintained his underperform (read: sell) recommendation on the stock.
For further details see:
1 Wall Street Analyst Thinks Lululemon Stock Is Going to $220. Is It a Sell?