TD Cowen reduced its 12-month price target on Lululemon Athletica Inc. to $298 from $321 while reiterating a Buy recommendation, according to a client note circulated on 18 Aug 2025. The brokerage said Lululemon’s stores and e-commerce channels face a tougher macroeconomic environment, intensifying competition and design missteps in non-core categories. Even so, TD Cowen believes the company’s valuation remains attractive relative to global peers. Lululemon shares traded between about $193 and $205 in morning New York trading, extending recent gains despite the target cut.