BofA analyst Alexander Perry lowered the firm’s price target on Clarus to $10 from $12 and keeps a Buy rating on the shares as the firm is lowering its 2023 adjusted EBITDA view to $60M from $78M as lower open-to-buy dollars from slower sell through of competing categories at Black Diamond’s largest wholesale customers are continuing to impact replenishment demand for Winter 2022 product. However, the firm believes core momentum at Black Diamond remains strong and inventory destocking should alleviate in the second half.
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Published first on TheFly
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Read More on CLAR:
- Clarus Reports Fourth Quarter and Full Year 2022 Results
- Clarus sees FY23 revenue $420M, consensus $457.39M
- Clarus reports Q4 adjusted EPS 20c, consensus 22c
- Clarus Announces $0.025 Per Share Quarterly Dividend
- Clarus Sets Fourth Quarter and Full Year 2022 Conference Call for Monday, February 27, 2023, at 5:00 p.m. ET
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