Baird analyst Mark Altschwager maintains a Neutral rating and $190 price target on shares of Lululemon (LULU) after the company named 27-year Nike (NKE) veteran Heidi O’Neill as CEO, effective September 8. The roughly four and a half month gap to start, activist dynamics, and Nike-legacy associations “may keep key strategic and governance questions open,” says the analyst, who sees “good long-term risk/reward,” but views Lululemon as “a show-me story from here.”
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