BUZZ-Street View: Lululemon renews confidence after directing focus on product

** Shares of Lululemon Athletica LULU.O up 4.5% at $270.55 premarket

** LULU beat profit estimates on Thursday, and promised to speed up efforts to improve its product mix, even as it cut annual forecasts

** At least six brokerages cut PT on stock, while two raise

ON TRACK FOR GROWTH

** Guggenheim ("buy," PT: $350) expects dynamic consumer environment to continue as LULU faces uncertain macro and works to improve its U.S. women's apparel

** Barclays ("equal weight," PT: $261) believes course correction takes time, even thought LULU is on course to accelerate growth by focusing on product

** Piper Sandler ("," PT: $260) lifts PT; says stock likely gets a pass for given share underperformance, while valuation could stay constrained until U.S. comparable sales revert to positive

** BofA Global Research ("buy," PT: $355) says fresher styles are in its women's apparel collection, while international growth remains strong; adds margins were better-than-expected on lower costs and markdowns

** Morgan Stanley ("overweight," PT: $326) says the market appears to welcome the company's guidance cut, and initial share gains suggest market views current EPS forecast as beatable

(Reporting by Juveria Tabassum in Bengaluru)

((Juveria.Tabassum@thomsonreuters.com;))