Lululemon Athletica Inc. (LULU) PT Lowered to $380 at RBC Capital on MIRROR Spending

RBC Capital analyst Kate Fitzsimons lowered the price target on Lululemon Athletica Inc. (NASDAQ: LULU) to $380.00 (from $435.00) while maintaining a Outperform rating after the company offered conservative guidance for Q1 and the full year 2021. The PT cut is due to stepped-up spending behind MIRROR that is likely to mitigate the flow-through even as the top line continues to outperform in a recovery.

The analyst stated "Looking to 2022 and beyond, we see opportunities for pent-up earnings power to be unleashed as MIRROR's investment cycle wanes and the core business continues to resonate.
Attractive risk/reward at current levels."

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