Katapult price target lowered to $20 from $25 at Loop Capital

Loop Capital analyst Anthony Chukumba lowered the firm’s price target on Katapult to $20 from $25 and keeps a Hold rating on the shares after its results. While Q2 marked the second consecutive quarter of high-teens percentage gross originations growth and the first revenue growth in several quarters, Katapult is closer to the significant equity dilution that will occur if it is unable to refinance its term loan by early December, the analyst tells investors in a research note.