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Fly News Breaks for October 21, 2016
LULU
Oct 21, 2016 | 07:32 EDT
Jefferies analyst Randal Konik lowered his price target for lululemon athletica $61 from $76 saying he's observed heightened promotional activity in the "We Made Too Much" section of the retailer's website. Elevated promotions threatens the "significant" gross margin expansion expected for the second half of 2016 and potentially speaks to softening trends, Konik tells investors in a research note. He lowered his estimates for lululemon and keeps a Hold rating on the shares. The stock closed yesterday down 81c to $57.77.
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