Joe Terranova Slams Jefferies Lululemon Downgrade: ''I Completely Disagree With The Report''
Lululemon Athletica Inc (NASDAQ: LULU ) was featured as the call of the day Monday on CNBC''s "Fast Money Halftime Report." What Happened: Jefferies analyst Randal Konik downgraded Lululemon from Hold to Underperform and lowered the price target to $200 from $375, citing pull-forward concerns from the pandemic. Konik said growth demand for Lululemon is already as good as it gets. With Nike Inc (NYSE: NKE ) shares down more than 35% year-to-date, the Jefferies analyst prefers the swoosh over Lululemon stock. Why It Matters: Virtus Investment Partners'' Joe Terranova disagreed with just about everything in the analyst note. He highlighted one point that really set him off. "I read the whole report. 40% of people gained weight? That''s a reason to take the price down to … Full story available on Benzinga.com
Joe Terranova Slams Jefferies Lululemon Downgrade: ''I Completely Disagree With The Report''
Lululemon Athletica Inc (NASDAQ: LULU ) was featured as the call of the day Monday on CNBC''s "Fast Money Halftime Report." What Happened: Jefferies analyst Randal Konik downgraded Lululemon from Hold to Underperform and lowered the price target to $200 from $375, citing pull-forward concerns from the pandemic. Konik said growth demand for Lululemon is already as good as it gets. With Nike Inc (NYSE: NKE ) shares down more than 35% year-to-date, the Jefferies analyst prefers the swoosh over Lululemon stock. Why It Matters: Virtus Investment Partners'' Joe Terranova disagreed with just about everything in the analyst note. He highlighted one point that really set him off. "I read the whole report. 40% of people gained weight? That''s a reason to take the price down to … Full story available on Benzinga.com