RBC Cuts Price Target on lululemon (LULU) to $30

RBC Capital lowers its price target on lululemon athletica (Nasdaq: LULU) from $47 to $30. The firm maintains its Outperform rating on the stock.

The firm said it expects lululemon to report in-line Q2 earnings, which are expected out before the market opens on Thursday, September 11.

Shares of lululemon just recently jumped into positive territory, most recently trading at $18.57, up 1.5% from yesterday's close. RBC's new $30 price target on lululemon represents a potential gain of about 65% from current levels.

lululemon athletica, inc. designs, manufactures, and distributes athletic apparel for women and men.

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