BMO Capital Markets covered Lululemon for the first time this week and gave it a runner-up rating, saying that the sportswear company's transformation will not be quick or easy because it is handing over market share to competitors and is experiencing an increase in sales decline.

BMO Capital Markets covered Lululemon for the first time this week and gave it a runner-up rating, saying that the sportswear company's transformation will not be quick or easy because it is handing over market share to competitors and is experiencing an increase in sales decline.