Lululemon price target lowered to $270 from $276 at Barclays

Barclays lowered the firm’s price target on Lululemon (LULU) to $270 from $276 and keeps an Equal Weight rating on the shares. The company’s Q1 results met estimates on net sales and earnings, but its comp growth of up 1% was below the Street’s estimate of up 3% due to traffic weakness in U.S. stores and a timing issue in China related to New Year, the analyst tells investors in a research note. The firm says the Lululemon’s macro environment remains uncertain.