Goldman Sachs analyst Brooke Roach lowered the firm’s price target on Lululemon (LULU) to $180 from $200 and keeps a Neutral rating on the shares. Trends at Lululemon remain mixed, and while Goldman is encouraged by stronger store traffic in October, improving consumer sentiment for the brand and key franchises on social media, and tailwinds from the company’s new Amex Platinum partnership, the firm’s brand trackers have worsened and promotionality is meaningfully increasing in breadth, the analyst tells investors in a research note.
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