Citi Cuts Lulu, Scotiabank Backs Delivery Duo

Citigroup's Paul Lejuez lowered his target on LULU to $117 from $130. He kept a Hold rating. The move dragged the consensus target down to $106.39, from $107.43 just a session ago.

Lululemon carries short interest of 12.7% of its free float. That is elevated for a consumer brand. Bears clearly see more downside ahead.

Scotiabank took the opposite tone elsewhere. Analyst Nat Schindler initiated UBER at Buy with a $100 target. The bank also launched coverage on DASH at Buy, setting a $275 target. Both calls hit on the same day — a clear bet on the gig-economy delivery space.

DoorDash now commands an $82 billion market cap. Its short interest sits at just 4.3% of free float. Scotiabank sees plenty of runway from here.

In metals, JP Morgan's Bennett Moore lifted his target on NUE to $308 from $294. He rates the stock Buy. He also bumped STLD to $273 from $260, though he held a Hold rating there. Both calls signal JP Morgan sees steel demand holding up.

AJG and KKR saw consensus target prices edge higher, a quiet vote of confidence from the street.