What's Going On With Lululemon Stock?

Lululemon Athletica Inc LULU shares are trading slightly higher Thursday following positive analyst coverage from Telsey Advisory Group. Several analysts have adjusted price targets on the stock since the company announced an updated operational structure following the resignation of its chief product officer last week.

What To Know: Telsey Advisory Group analyst Dana Telsey on Thursday maintained Lululemon with an Outperform rating and price target of $550.

Telsey joins a growing list of analysts who have updated price targets this week. Citigroup cut its price target to $415, TD Cowen lowered its target to $437, Morgan Stanley slashed its price target to $404, Stifel went to $410 and Goldman cut to $463.

Lululemon shares are down approximately 15% over the last month. Last week, Lululemon’s chief product officer Sun Choe resigned from his role to pursue other opportunities. The company doesn’t intend to replace Choe's position.

Global creative director Jonathan Cheung is now reporting to CEO Calvin McDonald and driving the product design and innovation roadmap for Lululemon. The company is also creating a new team of leaders from its merchandising and brand functions to scale its go-to-market strategies.

Lululemon said the organizational changes are aimed at accelerating product innovation and supporting long-term growth plans.

Lululemon is scheduled to report its first-quarter financial results after the market close on June 5. The company is expected to report earnings of $2.39 per share and revenue of $2.2 billion, according to estimates from Benzinga Pro.

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LULU Price Action: Lululemon shares were up 0.78% at $300.88 at the time of publication, according to Benzinga Pro.

Photo: Pedro Alvarez from Pixabay.