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Fly News Breaks for March 30, 2017
LULU
Mar 30, 2017 | 06:09 EDT
Wells Fargo analyst Ike Boruchow downgraded lululemon athletica to Market Perform saying last night's Q4 results "uncovered several issues that are likely to create an overhang on the stock for the foreseeable future." The retailer's sales trends have decelerated significantly quarter-to-date, Boruchow tells investors in a post-earnings research note. The analyst cut his price target range for the shares to $49-$50 from $78-$80. Citi this morning also downgraded lululemon.
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