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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FOXF:
- Fox Factory price target lowered to $36 from $45 at Roth MKM
- Fox Factory price target lowered to $38 from $45 at Baird
- Fox Factory Holding Corp. Announces Q3 Earnings and Strategic Initiatives
- Closing Bell Movers: Amazon gains 6%, Apple slips 2% on earnings
- Fox Factory initiates action in AAG segment to improve margins, cut costs