HSBC Downgrades Lululemon Athletica to Hold, Announces $500 Price Target
Portfolio Pulse from Benzinga Newsdesk
HSBC analyst Erwan Rambourg has downgraded Lululemon Athletica (NASDAQ:LULU) from Buy to Hold while setting a price target of $500 for the company's stock.
January 22, 2024 | 11:50 am
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HSBC downgraded Lululemon Athletica from Buy to Hold, potentially impacting investor sentiment and the stock's short-term performance.
Downgrades by major analysts like HSBC can influence market perception and lead to short-term price volatility. However, the establishment of a high price target may offset some negative sentiment.
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