DA Davidson lowered the firm’s price target on Lifetime Brands (LCUT) to $11.50 from $14 and keeps a Buy rating on the shares. Last month, the company reported Q3 sales and EBITDA that missed consensus estimates and lowered its FY24 guidance partly due to Dolly Parton shipments of $4M that are expected tot shift into 1Q25 and 4Q24, the analyst tells investors in a research note. The firm noted that while international organic sales were up 8.4% as Lifetime gained distribution, it had soft replenishment orders from U.S. retailers in Q3.
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Read More on LCUT:
- Lifetime Brands Faces Challenges but Sees Growth Potential
- Lifetime Brands cuts FY24 adjusted EPS view to 51c-60c from 69c-78c
- Lifetime Brands reports Q3 adjusted EPS 21c, consensus 39c
- Lifetime Brands (LCUT) Q3 Earnings Cheat Sheet
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
