Lululemon price target lowered to $370 from $400 at BofA

BofA lowered the firm’s price target on Lululemon (LULU) to $370 from $400 and keeps a Buy rating on the shares. Management maintained FY25 sales guidance, but lowered FY25 EPS by 2.5% to $14.58-14.78 to reflect tariffs and a slightly more promotional outlook, the analyst noted. However, the firm reiterates a Buy rating as sales plans are on track and it is “encouraged” by successful product launches in first half scaling in the back half of the year, the analyst added.