Lululemon Athletica shares are trading lower after Goldman Sachs downgraded the stock from Buy to Neutral and lowered its price target from $463 to $286.
Portfolio Pulse from Benzinga Newsdesk
Lululemon Athletica shares are trading lower after Goldman Sachs downgraded the stock from Buy to Neutral and lowered its price target from $463 to $286.
August 02, 2024 | 12:58 pm
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NEGATIVE IMPACT
Goldman Sachs downgraded Lululemon Athletica from Buy to Neutral and reduced its price target from $463 to $286, causing the stock to trade lower.
The downgrade from a major financial institution like Goldman Sachs, along with a significant reduction in the price target, is likely to negatively impact investor sentiment and lead to a short-term decline in Lululemon's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100