Jefferies Reiterates Underperform Rating on Lululemon Athletica Inc. (LULU)

Jefferies analyst Randal Konik reiterated an Underperform rating and $220.00 price target on Lululemon Athletica Inc. (NASDAQ: LULU).

The analyst comments "We analyzed six major metro areas and found that competition is setting up shop right next to LULU stores. Although mgmt has intensified their focus on int'l growth, we believe it is crucial not to overlook the struggling North American business, which still accounts for ~80% of sales. A significant factor driving these trends is the surge in competition within the US, as emerging brands gain share. With competition moving in, we see share loss intensifying."

For an analyst ratings summary and ratings history on Lululemon Athletica Inc. click here. For more ratings news on Lululemon Athletica Inc. click here.

Shares of Lululemon Athletica Inc. closed at $273.58 yesterday.

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