Lululemon price target lowered to $270 from $300 at Wells Fargo

Wells Fargo analyst Ike Boruchow lowered the firm’s price target on Lululemon (LULU) to $270 from $300 and keeps an Equal Weight rating on the shares. With hope growing around near-term innovation plus potential for stabilization in the U.S., the firm says it received the opposite on Lululemon’s Q1 print. While tariffs are a key factor too, North America remains a problem which led Lululemon to a rare full year guide cut.