Lululemon (LULU) Stock Slumps 5% on Jefferies Downgrade

InvestorPlace2022-07-11

Lululemon Athletica(LULU) stock is slipping on a downgrade.That comes from Jefferies analyst Randal Konik.The analyst also cut his price target for the shares.Lululemon Athletica(NASDAQ:LULU) stock is...

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4West
2022-07-12
4West
Oops
Otahman
2022-07-11
Otahman
Like pls
hellodarz888
2022-07-11
hellodarz888
Wooo
KYBoo
2022-07-11
KYBoo
Goog
N00b
2022-07-11
N00b
Ok
Jean0031
2022-07-11
Jean0031
Like

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To put that in perspective, the consensus rating from analysts for LULU shares is a “buy” based on 25 ratings.To go along with that downgrade, Konik also cut Jefferies’ price target for LULU stock to $200 per share. The prior price target from the firm was $375 per share. For the record, the consensus price target for Lululemon Athletica is$418.50 per share. Also, LULU was trading at $293.39 per share when markets closed on Friday.So what’s behind the bearish stance on LULU stock? There are a few factors that the Jefferies analyst believes are worth considering when taking into account the potential of the athletic wear company.First off, Konik notes that LULU stock got a boost from the pandemic. He points to potential slower growth against that data that could make the future difficult for the company. 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