Lululemon Athletica shares are trading lower after Morgan Stanley maintained an Overweight rating on the stock and lowered its price target from $326 to $314.
Portfolio Pulse from Benzinga Newsdesk
Lululemon Athletica's shares are trading lower following Morgan Stanley's decision to maintain an Overweight rating but lower the price target from $326 to $314.
October 01, 2024 | 3:30 pm
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Lululemon Athletica's stock is experiencing a decline after Morgan Stanley adjusted its price target from $326 to $314, while keeping an Overweight rating.
The reduction in the price target by Morgan Stanley suggests a less optimistic outlook on Lululemon's future stock performance, which is likely causing the current decline in share price. The Overweight rating indicates a positive long-term view, but the immediate impact is negative due to the lowered target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100