Piper Sandler lowered the firm’s price target on Lululemon (LULU) to $130 from $190 and keeps a Neutral rating on the shares. This week, the firm hosted an expert call with investors on expectations as Heidi O’Neill takes reins as CEO in September. Piper notes shares are down 27% since the April 22 announcement as market is taking a negative view. Per the firm’s expert, O’Neill is a decisive leader who executes swiftly once problems are identified — albeit Lululemon is still in search of the right solution to fix the U.S.
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