BRC Inc. price target lowered to $5 from $10 at Truist

Truist analyst Bill Chappell lowered the firm’s price target on BRC Inc. to $5 from $10 and keeps a Hold rating on the shares after its Q4 earnings miss and below-consensus guidance. Investors have lost confidence in the company’s ability to project guidance and the firm wouldn’t be surprised if there are more cuts through the year given the macro uncertainties, the analyst tells investors in a research note. Truist added that the decline in marketing dollar spend is not ideal for a company that needs to gain market share in a crowded category.