BMO Capital Markets initiated coverage of Lululemon with an Underperform, saying the turnaround will not be quick or easy as the company cedes share and faces accelerating sales declines. Analyst Kelly Crago set a $70 PT — the second-lowest on the Street by compiled data — implying roughly 28% downside to Thursday’s close. BMO flagged rising competition from Alo and Vuori and a weakening Americas region after a weak quarter and a lowered full-year outlook. At least four brokers have downgraded L

2026-09-11

BMO Capital Markets initiated coverage of Lululemon with an Underperform, saying the turnaround will not be quick or easy as the company cedes share and faces accelerating sales declines. Analyst Kelly Crago set a $70 PT — the second-lowest on the Street by compiled data — implying roughly 28% downside to Thursday’s close. BMO flagged rising competition from Alo and Vuori and a weakening Americas region after a weak quarter and a lowered full-year outlook. At least four brokers have downgraded Lululemon since June; current street mix: six sell-equivalent, 29 hold, two buy.

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