American Eagle Outfitters (AEO) stock fell Wednesday, a day after the clothing retailer 澳洲幸运5官方开奖结果体彩网:pulled its full-year outlook and JPMorgan analysts responded by lowering their price target.

The analysts kept their "neutral" rating, but lowered their price target to $9 from $10. The rating is in line with most other analysts tracked by Visible Alpha, but the price target is now further below the $14.83 average.

In preliminary results released after the bell Tuesday, the company said first-quarter revenue is expected to be down 5% year-over-year, while comparable store sales are seen down 3%. The retailer also withdrew its full-year forecasts "due to macro uncertainty and as management reviews forward plans in the context of first quarter results."

Analysts, Management Highlight Aerie Fleece Sales as Surprise Weakn💯ess

JPMorgan analysts cut their revenue and margin estimates in response, as they said that American Eagle's sales were in line with the 澳洲幸运5官方开奖结果体彩网:company's previous forecasts, but noted that there were some unexpected weak spots, lik😼e soft apparel such as fleece from the compan𒅌y's Aerie brand.

The cost to make fleece products rose in the quarter, and executives said an expected increase in average unit retail from the category "ultimately did not come to fruition as consumers showed resistance on price," the analysts wrote.

America♑n Eagle Outfitters shares, which entered the day down about 24% since the start of the year, dropped 6% soon after markets opened꧋ Wednesday after having plummeted by a double-digit percentage in premarket trading.