BMO Capital Markets initiated coverage of Lululemon Athletica Inc. (LULU) with an Underperform rating, citing the athletic wear company's slow turnaround, market share loss to rivals, and deepening sales declines. Analysts led by Kelly Crago set a $70 price target, implying a roughly 28% decline from Thursday's closing price. The firm noted Lululemon's weak quarterly report and reduced full-year outlook, along with deteriorating regional performance in the Americas and China amid competition from brands like Alo and Vuori.