Smith & Wesson Brands downgraded to Hold from Buy at Lake Street

Lake Street downgraded Smith & Wesson Brands to Hold from Buy with a price target of $13, down from $18, after the company reported fiscal Q2 sales and earnings that missed the firm’s expectations and management broadly discussed the outlook for Q3 and FY25 results with a “soft outlook.” The firm now sees a more normalized demand environment and thinks single-digit sales growth is more likely next year with modest margin improvement, the analyst tells investors.