Cimpress price target lowered to $87 from $110 at Truist

Truist analyst Youssef Squali lowered the firm’s price target on Cimpress (CMPR) to $87 from $110 and keeps a Buy rating on the shares after “disappointing” second quarter results. The firm said that Q2 earnings missed expectations as “softer” revenue growth at Vista was driven by weakness in business cards, consumer products and one-time events. Barclays continues to believe that the business transformation of the last two years has set the company on a course to deliver mid-single-digit revenue growth and higher margins/free cash flows, yet the stock trades like a “melting ice cube.”