Shares of Canada Goose Holdings (GOOS) tumbled 5.34% in pre-market trading on Monday after Barclays downgraded the luxury outerwear maker from Equal Weight to Underweight. The downgrade has sparked concerns among investors about the company's near-term prospects.

Barclays not only lowered its rating on Canada Goose but also reduced its price target for the stock. However, there seems to be some discrepancy in the reported new price target. One source indicates a target of CA$11.45, while another mentions a cut to $8 from the previous $10. Despite this inconsistency, both figures represent a significant reduction from the company's current trading price, reflecting a more bearish outlook on the stock.

The downgrade comes at a time when Canada Goose faces challenges in the luxury retail sector. Analysts at FactSet have given the company an average rating of Underweight with a mean price target of $11.51. This pessimistic view from multiple analysts suggests that Canada Goose may be struggling with factors such as changing consumer preferences, increased competition, or broader economic pressures affecting the luxury goods market. Investors will be closely watching for any further developments or statements from the company in response to this downgrade.