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Lululemon faces 28% downside as BMO starts coverage with Underperform

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  • BMO Capital Markets initiated Lululemon coverage with an Underperform rating and $70 price target.
  • Shares have fallen more than 80% from their December 2023 record high of $511.29.
  • Heidi O'Neill officially became CEO on Tuesday amid sales declines and heightened competition.
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