Truist lowered the firm’s price target on Fox Factory (FOXF) to $42 from $54 but keeps a Buy rating on the shares after its Q3 earnings miss and guidance cut. Fox Factory remains a “show me” story, but the firm maintains that the recent string of challenges is largely exogenous/macro in nature, with the resetting of FY24/FY25 expectations set to improve sentiment over the next 3-4 months, the analyst tells investors in a research note.
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