BUZZ-Lululemon Athletica Inc: Canaccord Genuity cuts price target

Mon Mar 23, 2015 9:31am EDT
 
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** Canadian yogawear chain's shares down 2 pct at $64.51

** Canaccord Genuity cuts price target to $55 from $58, saying weak start to year will lead to "cautious orders and subsequently cautious guidance" by company

** " ... we believe the stock has run ahead of itself and is subject to a sharp pullback in the interim should the momentum pause," analysts write in note

** Median price target is $66.50

** Up to Friday's close, stock had risen 35 pct in past 12 months