LQR House price target lowered to $5 from $7 at EF Hutton

EF Hutton lowered the firm’s price target on LQR House to $5 from $7 and keeps a Buy rating on the shares. The company’s March quarter results included slightly more of a net loss than forecasted, the analyst tells investors in a research note. The firm is taking a more cautious approach versus management’s $10M 2024 sales target. It forecasts $8.0M in sales this year, with half of that possibly occurring in the December quarter due to seasonality and the holiday shopping season.