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Fly News Breaks for March 30, 2017
LULU
Mar 30, 2017 | 07:36 EDT
Oppenheimer analyst Anna Andreeva lowered her price target for lululemon to $65 from $75 after quarterly results. The analyst notes that despite "very robust" Q4, the company is proving not immune from environment as neutral color palette that worked in 2H16 is not resonating this spring, as the consumer wants more fashion/newness. While disappointing, as quarters continue to ebb and flow, lululemon's brand equity still remains intact, she adds. Andreeva reiterates an Outperform rating on the shares.
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