Lululemon price target lowered to $250 from $302 at BMO Capital

BMO Capital lowered the firm’s price target on Lululemon (LULU) to $250 from $302 and keeps a Market Perform rating on the shares. The company reported a slight top- and bottom-line beat, with better gross margins partially offset by an SG&A miss, but looking ahead, the management guided Q2 “materially below” and lowered FY25 gross margins and earnings outlook due to tariffs and markdowns, the analyst tells investors in a research note. This marks the first time the company has lowered its FY earnings forecast at Q1 since FY14, the firm added.