Piper Sandler raised the firm’s price target on Lululemon (LULU) to $190 from $165 and keeps a Neutral rating on the shares. The firm notes that in conjunction with better than feared Q3, the company announced Calvin McDonald stepping down as CEO effective January 31. The stock is trading up after hours as investors are ready for change. While many questions about strategy will be unanswered for now, Piper is encouraged that Lululemon plans to manage inventory units less sales trend starting Q1 2026, with the goal to begin to restore full price integrity of the brand.
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