Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Barclays reaffirms Lululemon stock rating after leadership change

EditorEmilio Ghigini
Published 05/22/2024, 10:20 AM
© Reuters.
LULU
-

On Wednesday, Barclays reaffirmed its Equalweight rating on Lululemon Athletica Inc. (NASDAQ: NASDAQ:LULU) stock with a steady price target of $395.00.

The company disclosed Tuesday after market hours that Sun Choe, the Chief Product Officer, will be stepping down from her role. Choe, who has been with Lululemon since 2016, assumed the position of CPO in 2018.

In conjunction with the announcement of Choe's departure, Lululemon revealed plans to revise its organizational structure. The company has decided it will not seek a replacement for the Chief Product Officer role. This move suggests a strategic shift in Lululemon's management approach as it adapts to internal and market changes.

The update on the company's executive team and organizational structure comes at a time when Lululemon continues to be a key player in the athletic apparel industry. The decision to not fill the CPO position indicates a possible realignment of responsibilities within the company's leadership.

Lululemon's announcement and Barclays' subsequent rating and price target confirmation reflect the company's current standing and outlook.

The apparel maker's stock continues to be monitored by investors following the executive change and the implementation of the new organizational strategy.

Barclays' position on Lululemon's stock remains unchanged in the wake of these developments. The firm's Equalweight rating and price target of $395.00 are indicative of their current valuation of the company in light of the recent executive departure and structural changes.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.