Is Lululemon Athletica Stock Poised to Fall to $275?
Having come so far, so fast since the markets crashed in mid-March, lululemon athletica's (NASDAQ: LULU) performance may not have any more room to run, according to one analyst.
Wells Fargo analyst Ike Boruchow downgraded Lululemon's stock to equal weight from overweight because shares soared 125% after falling below $129 a share two months ago. Because there is "plenty of risk in the consumer environment still ahead," Boruchow thinks there will be better opportunities to buy the stock in the future, although he raised his price target to $275 per share from $250.
Image source: Getty Images.
Source Fool.com
