Lululemon Stock Is Sliding Wednesday: What's Going On?
Portfolio Pulse from Adam Eckert
Lululemon Athletica Inc (NASDAQ:LULU) shares are trading lower after the resignation of its chief product officer, Sun Choe. The company announced an updated operational structure to accelerate product innovation and support long-term growth. Despite the changes, Telsey Advisory Group maintained an Outperform rating with a $550 price target. Lululemon's first-quarter earnings results are scheduled for June 5.
May 22, 2024 | 12:29 pm
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Lululemon shares are down 3.55% following the resignation of chief product officer Sun Choe. The company announced a new operational structure to drive product innovation and long-term growth. Telsey Advisory Group maintained an Outperform rating with a $550 price target. Q1 earnings are scheduled for June 5.
The resignation of a key executive and the subsequent restructuring can create uncertainty among investors, leading to a short-term decline in stock price. However, the maintained Outperform rating and high price target from Telsey Advisory Group may mitigate some negative sentiment. Upcoming earnings results on June 5 will be crucial for future stock performance.
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