NEW YORK (TheStreet) -- Lululemon (LULU) stock has been downgraded to "neutral" from "outperform" with a $40 price target, Wedbush said. $40 price target. The firm said near-term comp sales outlook is murky.
Canaccord also downgraded the stock to "hold" from "buy" with a $42 price target, noting a product fix is likely a year away.
Citigroup downgraded to "buy" from "neutral" with a $40 price target. The firm said the company faces several risks to growth.
Also See: Lululemon Shares Tank to 2011 Levels
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 revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year."