The Globe and Mail reports in its Friday, March 22, edition that Citi analyst Paul Lejuez has reaffirmed his "buy" recommendation for Lululemon athletica. The Globe's David Leeder writes that Mr. Lejuez shaved his share target by $20 to $500 (all figures U.S.). Analysts on average target the shares at $497.52. While the fourth quarter 2023 financial results from Lululemon topped Street expectations, displaying "impressive" strength in China and gross margin improvement, Mr. Lejuez says the gains were overshadowed by a "weaker" result in the United States and a further slowing to start the current fiscal year. Mr. Lejuez says in a note: "As a result, management guided Q1/F24 below consensus and their mid-teens long-term growth algo. Management attributes the weakness to a softening U.S. consumer, though it is unclear why their higher-income consumer would be feeling incremental macro pressures. Management plans to make additional marketing/product investments in Q1 to drive a reacceleration in U.S. growth beginning in 2Q. We expect this to be viewed skeptically by the market until visibility into a reacceleration is more clear and see the overhang of a weakening U.S. biz weighing on shares near-term."