Shares of Lululemon Athletica Inc (NASDAQ:LULU) tanked in early trading on Friday, after the company reported mixed second-quarter results.
Here are some analyst takeaways.
- BofA Securities analyst Lorraine Hutchinson downgraded the rating from Buy to Neutral, while reducing the price target from $300 to $210.
- JPMorgan analyst Matthew Boss reiterated a Neutral rating, while cutting the price target from $224 to $191.
- Telsey Advisory Group analyst Dana Telsey downgraded the rating to Market Perform, while reducing the price target from $360 to $200.
Check out other analyst stock ratings.
BofA Securities: Although Lululemon reported an earnings beat for the second quarter, this was overshadowed by its reduced sales guidance and “much larger than expected de minimis and tariff pressure,” Hutchinson said in the downgrade note. Sales trends decelerated in North America through the quarter, and management indicated that this could improve in the Spring …