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Fly News Breaks for October 19, 2016
LULU
Oct 19, 2016 | 07:31 EDT
Oppenheimer analyst Anna Andreeva lowered her price target for lululemon to $70 from $80 on valuation. The analyst notes that markdowns on the company's clearance "we made too much" increased substantially, creating additional fear on already "controversial stock." However, according to the company, this was contemplated in the Q3 guidance and is part of efforts to keep stores clean, she adds. Oppenheimer has an Outperform rating on the shares.
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