Analysts Just Trimmed Their Price Targets of These 5 Stocks

3. Lululemon Athletica Inc. (NASDAQ:LULU)

Number of Hedge Fund Holders: 44

Shares of Lululemon Athletica Inc. (NASDAQ:LULU) declined nearly four percent on Monday, July 11, 2022, following a price-target cut from Jefferies. The research firm lowered its price target for the athletic apparel retailer from $375 per share to $200 per share, citing intensifying competition and growing headwinds.

Jefferies analyst Randal Konik said Lululemon Athletica Inc. (NASDAQ:LULU) now faces tough comparisons due to strong sales last year. The company benefitted from the elevated demand for comfortable clothing as an increasing number of people switched to remote working during the pandemic. Konik also downgraded Lululemon Athletica Inc. (NASDAQ:LULU) from “Hold” to “Underperform.”