Shares of Lululemon Athletica stumbled as Morgan Stanley cut its t൲arget price for the athleisure company.

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 f🦂rom 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官方开奖结果体彩网:step in the right direction, though admit it likely wouldn’t quell lin🙈gering concerns,” analysts said.

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官方开奖结果体彩网:today's trading here. )The s🧔tock is🎐 down more than 15% this year but has climbed off year-to-date lows seen in April, rising this month to levels last touched in late March.

Lululemon’s performance may eventually stop outpacing its peers and start to resemble standard g⭕rowth 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官方开奖结果体彩网:earnings per share, $2.69, is ahead of the Street's consensus, according to Visible Alpha 🀅data.