Analysts recently lowered Lululemon's price targets, reflecting growing caution about the company's near-term outlook.
Goldman Sachs, Jefferies, and Piper Sandler cited slowing North American sales momentum as a primary concern.
Intensifying competition from rival brands compounds this sentiment.
Alo Yoga and Vuori challenge Lululemon's market share in the premium athleisure space.
Analysts believe these pressures could weigh on growth and profit margins through 2026.
This outlook persists despite Lululemon's underlying brand strength and international growth prospects.