NEW YORK (TheStreet) -- Lululemon (LULU) has had its price target downwardly revised to $69 from $73, Canaccord Genuity said Tuesday. The revision comes ahead of the retailer's quarterly report scheduled for release before the bell Thursday. The firm said it believes Lululemon will likely issue 2014 guidance below estimates.
"Given the confluence of macro (weather-related store closures) and company-specific issues (improving yet suboptimal product flow) that has likely impacted Q1, we are taking a more conservative view on our 2014 sales/EPS estimates," analysts wrote in the report.
Canaccord reiterated the stock as a "buy."
Must Read: Warren Buffett's 10 Favorite Stocks
Separately, TheStreet Ratings team rates LULULEMON ATHLETICA INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate LULULEMON ATHLETICA INC (LULU) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and weak operating cash flow."