Bloomberg

Shares of active apparel maker Lululemon (LULU - Get Report) dropped on Friday after the company was downgraded by an analyst at Wedbush Securities - just days after receiving an upgrade from analysts at Barclays.

In a research note to clients on Friday, Wedbush analyst Jen Redding said she was downgrading Lululemon to neutral from outperform and lowering her price target to $155 from $176. She noted that while she continues to expect the company to perform well, she does see lower potential margins amid a generally tougher economic environment for retail.

Lululemon shares fell 3.8% on Friday to $143.23.

Her views stand in contrast to Barclays analyst Matthew McClintock, who earlier this week elaborated on why he feels the Canadian yoga apparel and athleisure company "has a significantly larger [total addressable market] than even the most optimistic estimates likely expect." He currently has an overweight rating on Lululemon stock and a $200 price target.

Our newest elite ambassador, @NickFoles is moving on but it was the community that ultimately brought him back to the city where it all started.https://t.co/BOglDwN3dm

— lululemon (@lululemon) March 20, 2019

"We continue to believe Lululemon's [total addressable market] is ever-expanding as the company has entered into men's in a meaningful way, has seen success in office, travel [and] commute offerings and continues to see a significant amount of opportunity in bras and outerwear," McClintock wrote in a note to clients.

Lululemon will release its financial results for its fiscal fourth quarter and full year next Wednesday. Analysts polled by FactSet are anticipating earnings per share of $1.74.