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Fly News Breaks for December 2, 2016
LULU
Dec 2, 2016 | 07:51 EDT
As reported previously, Canaccord analyst Camilo Lyon downgraded lululemon to Sell from Hold as the category headwinds facing the company continue to stiffen. The analyst cited a shift from athleisure wear to denim, which will lead to moderating comps and EBIT margin compression. As a result, the risk/reward is slanted to the negative, said Lyon, who lowered his price target to $44 from $65 on lululemon shares.
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