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Fly News Breaks for September 11, 2015
LULU
Sep 11, 2015 | 08:48 EDT
After luluelemon reported stronger than expected Q2 results but its gross margins came in below its guidance, SunTrust calls the company's Q3 guidance "disappointing." Nonetheless, the firm says that the company's gross margin pressure and elevated inventories are being caused by transient issues and will dissipate soon. SunTrust cut its price target o nthe stock to $66 from $79 but keeps a Buy rating on the shares.
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