Shares of Lululemon Athletica stumbled as Morgan Stanley cut its target price for the athleisure compꦅany.

Morgan Stanley on Wednesday sliced its price target for Lululemon (LULU) stock from $373 to $346🌠, but maintained its bullish “overweight” rating. The analysts’ new target implies nearly 8% upside from Tuesday's close and is still above the average price target near $335 according to Visible Alpha.

The retailer is scheduled to release its first-quarter results next Thursday. If Morgan Stanley’s relatively bullish estimates are on point, “we would view the result as a 澳洲幸运5开奖号码历史查询:step in the right direction, though admit it likely wouldn’t quell lingering concerns,” analysts s🌊aid.

Lululemon shares were recently down about 1%, while the S&P 500 was ticking just a bit higher. (Read Investopedia's full coverage of 澳洲幸运5开奖号码历史查询:today's trading here. )The stock is down more than 15% this year but has climbed off year-to-date lows seen in Apꦚril, rising this month to levels last to✨uched in late March.

Lululemon’s performance may eventually stop outpaci🅘ng it🎃s peers and start to resemble standard growth rates in the specialty retail sector, Morgan Stanley wrote. But in the near-term, Lululemon is poised to weather tariffs relatively well, the analysts said.

Morgan Stanley's estimate for first-quarter 澳洲幸运5开奖号码历史查询:earnings per share, $2.69꧒, is ahead of the Street's consensus, according to Visible Alpha data.