: Lululemon’s stock down 2% after Wells Fargo downgrade with Nike gaining as new top defensive pick
Lululemon Athletica Inc.’s stock LULU fell 2% Monday, after Wells Fargo downgraded the yoga gear maker’s stock to equal weight from overweight, and said it’s taking its chips off the table following a strong year-to-date run. The stock has gained 42.6% in 2023 so far, outperforming the S&P 500’s SPX 19% rise. Analysts led by Ike Boruchow said there were several factors behind the bank’s upgrade of Lululemon back in January. These included the view that inventories would normalize after the... Читать дальше...