Citi Cuts Lulu, JP Morgan Lifts Steel

Citigroup slashed its target on LULU to $117 from $130. Analyst Paul Lejuez kept a Hold rating. The consensus target also fell to $106.39 from $107.43. Short interest sits at 12.3% of free float — a notable bearish overhang.

Lululemon has struggled to recapture post-pandemic momentum. Slowing growth in China and rising competition have weighed on sentiment all year. Citi's cut adds to a cautious pile.

Across the aisle, JP Morgan's Bennett Moore raised his target on NUE to $308 from $294. He maintained a Buy rating. Moore also lifted his target on STLD to $273 from $260, keeping a Hold. Both moves signal growing optimism on US steel names. Trade policy tailwinds and domestic infrastructure spending are likely drivers.

Scotiabank initiated coverage on two gig-economy giants. It started DASH at Buy with a $275 target. It also began on UBER at Buy with a $100 target. Analyst Nat Schindler flagged strong long-term delivery demand.

Insurance broker AJG saw its consensus target tick up to $291.72. KKR also received a modest upward target revision from the street consensus.