BUZZ-Lululemon Athletica Inc: FBR cuts rating, PT

Mon Nov 30, 2015 7:52am EST
 
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** Canadian yogawear retailer's shares down 4.2 pct at $50.30 premarket

** FBR & Co cuts rating to "underperform" from "market perform", PT to $42 from $55

** Canaccord Genuity cuts PT to $52 from $54, citing concerns about Lululemon's ability to boost comparable growth

** Elevated inventory levels and supply chain issues will likely pressure Lululemon's margins through 2016, FBR analysts write in note

** Of 38 brokerages covering stock, 22 have "buy" or higher rating, 11 have "hold" and 5 have "sell" or lower rating; median PT is $65

** Up to Friday's close, stock had fallen about 6 pct this year