Fox Factory price target lowered to $43 from $53 at BofA

BofA lowered the firm’s price target on Fox Factory to $43 from $53 and keeps a Neutral rating on the shares. According to BofA aggregated credit and debit card data, spending at specialty bike stores continued the trend of year-over-year declines, decreasing 14.1% in August, the analyst tells investors. The firm believes continued declines in end market demand could pressure recovery in Fox Factory’s legacy bike business, the analyst added.