Leslie’s price target lowered to $3.05 from $3.80 at BofA

BofA analyst Shaun Calnan lowered the firm’s price target on Leslie’s (LESL) to $3.05 from $3.80 and keeps a Buy rating on the shares. After the company reported fiscal Q4 adjusted EPS below the firm’s and consensus estimates driven by lower than expected revenue and operating margin, BofA lower its FY25 adjusted EBITDA forecast by 14% to reflect lower gross margin estimates. However, the firm reiterates a Buy rating given expectations for top line improvement and gross margin expansion in FY25.