Lululemon price target lowered to $375 from $405 at BTIG

BTIG lowered the firm’s price target on Lululemon (LULU) to $375 from $405 and keeps a Buy rating on the shares ahead of its Q2 results next week. The firm is citing its “mixed” data checks and the impact of higher tariffs but anticipates a “relatively in-line” print, the analyst tells investors in a research note. While there is potential for the full-year to be revised downward on higher tariffs and sluggish US performance, many estimates are already below the company’s guidance, and the firm believes this is reflected in the stock, BTIG added.