Lululemon’s softer-than-expected outlook for 1Q and FY24 isn’t a concern for some. Lorraine Hutchinson and Christopher Nardone, analysts at BofA Securities, say in a research note that the athletic-apparel company’s guidance could prove to be conservative even when factoring quarter-to-date weakness if new deliveries continue to perform. They expect another year of innovation from Lululemon’s pipeline of fabric, styles and categories. Hutchinson and Nardone also say international markets represent a key opportunity. Lululemon today is currently the worst performer in the S&P 500 and Nasdaq 100.