Lululemon price target lowered to $492 from $548 at Wedbush

Wedbush lowered the firm’s price target on Lululemon to $492 from $548 and keeps an Outperform rating on the shares. Lululemon reported disappointing guidance due to a quarter-to-date slowdown in the U.S., sending shares down 11% in the aftermarket, but Wedbush remains optimistic and believe this could prove to be a buying opportunity in a high-quality name, the analyst tells investors in a research note. Lululemon remains highly innovative, and growth in the under-penetrated international region is outstanding, the firm says.