Lululemon (LULU) PT Lowered to $130 at Piper Sandler
Piper Sandler analyst Anna Andreeva lowered the price target on Lululemon (NASDAQ: LULU) to $130.00 (from $190.00) while maintaining a Neutral rating.
The analyst commented: "What to Expect as Heidi O’Neill Joins as CEO? This week we hosted an expert call with investors on expectations as Heidi O'Neill takes reins as CEO in September; our expert is 20+ year Nike vet who worked with O’Neill when she led Women’s. LULU shares are down 27% since the 4/22 announcement as market is taking a negative view (O'Neill is a surprising choice given strong skill set in brand/ marketing vs. being an operator or a merchant); per our expert, O'Neill is a decisive leader who executes swiftly once problems are identified--albeit LULU is still in search of the right solution to fix the US. We lower 1Q26 sales to 1% (US at -7%) and PT to $130 (from $180, 11x PE vs. 16x previously, given US ongoing weakness); our checks suggest trends remained soft through 1Q26, which continues into May; with shares trading at 10x '27 consensus est., we think buy-side is bracing for $9-$10 in EPS."