- Jefferies analyst Randal Konik downgraded Lululemon Athletica Inc LULU to Underperform from Hold and reduced the price target to $200 from $375, implying a 29% downside.
- Konik sees risks to Lululemon's consensus estimates amidst rising competition and macroeconomic volatility.
- The analyst also said there is likely risk to Lululemon's sky-high sales per square foot.
- Price Action: LULU shares are trading lower by 3.37% at $283.51 on the last check Monday.
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