Citi analyst Paul Lejuez points out that shares of lululemon are down 30% since the company reported Q2 results. Investor concerns center around the low-single-digit decline in store traffic as well as the level of clearance on the retailer's website. There are some misunderstandings related to these concerns and fears are exaggerated, Lejuez tells investors in a research note. As lululemon grows its store and sales base, more clearance is natural, the analyst contends. Further, he believes all classes of stores are comping positive. He feels investors have concerns about older classes of stores comping down. The analyst keeps a Buy rating on lululemon with an $85 price target. The stock closed Friday down 77c to $57.00.