1. Lululemon's resilient business model and strong brand are undervalued despite recent stock underperformance, offering long-term potential; 2. International store expansion and superior ROIC per store highlight significant growth potential before market saturation; 3. Cyclical headwinds and macro uncertainty have impacted results, but improving consumer sentiment and potential rate cuts may drive recovery, with a DCF analysis supporting a 26% upside and a Strong Buy rating.