Lululemon falls after Truist downgrades to 'sell'

** Athleisure maker Lululemon Athletica's LULU.O shares down 1.7% to $115.44 premarket

** Brokerage Truist downgrades stock to "sell" from "hold", citing meaningful pressure and limited visibility into a potential recovery

** Headwinds include recent PR missteps, growing competition and elevated concerns about growth opportunities in China, which has been LULU's strongest region - Truist

** Says current leadership transition period likely stalls turnaround efforts; cuts PT to $94 from $115

** Two of 35 brokerages rate the stock "buy" or higher, 29 "hold" and 4 "sell"; their median PT is $122 - data compiled by LSEG

** Up to last close, stock had fallen nearly 44% YTD