Lululemon price target lowered to $360 from $385 at Telsey Advisory

Telsey Advisory analyst Dana Telsey lowered the firm’s price target on Lululemon (LULU) to $360 from $385 and keeps an Outperform rating on the shares. The company’s Q1 results “nicely topped” consensus and guidance, the analyst tells investors. Consumers continue to respond well to newness and new product launches, the firm adds. Lululemon, however, revised its annual guidance, which was related primarily to tariffs, the firm notes.