Raymond James analyst Rick Patel lowered the firm’s price target on Brilliant Earth to $7 from $9 and keeps an Outperform rating on the shares. Brilliant Earth reported a Q4 revenue miss, and new guidance for Q1 and 2023 was also below expectations, the analyst tells investors in a research note. Revenue is still under pressure as engagement jewelry demand settles to a new normal after a strong 2021 and early 2022, the firm contends.
Published first on TheFly
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