Lululemon price target lowered to $225 from $270 at Wells Fargo

Wells Fargo analyst Ike Boruchow lowered the firm’s price target on Lululemon (LULU) to $225 from $270 and keeps an Equal Weight rating on the shares. The firm believes the Lululemon story remains in a tough spot. Lowering full year EPS to low end of plan, Wells remains sidelined and sees 3 key concerns, namely lack of U.S. comparable sales visibility, China growth trajectory, and second half of the year margin headwinds.