Acco Brands price target lowered to $7 from $7.50 at Barrington

Barrington lowered the firm’s price target on Acco Brands to $7 from $7.50 and keeps an Outperform rating on the shares. The company’s Q1 sales were impacted by the soft demand environment and its 2024 outlook was reduced, the analyst tells investors in a research note. The firm cites the revision in Acco’s 2024 guidance and estimate reductions for the target drop.