Lululemon Athletica shares fell in premarket trading. Wells Fargo lowered its price target for the stock to $105 from $110. The bank maintained an Equalweight rating.
Analysts cited weakness in the North American and Chinese markets. The firm suggests the company faces deep-rooted problems requiring time and investment to resolve.
Industry expert checks indicate a long road ahead for the brand to regain its growth trajectory. The company faces increasing competition and market saturation in key growth regions like China.