Craig-Hallum downgraded Xpel to Hold from Buy with a price target of $40, down from $60. The firm downgrades the shares following the Q1 miss and guide lower as weak China revenue, shifting consumer trends in the aftermarket channel, and other macro factors have impacted the demand outlook. Uncertainties remain for the balance of the year as the tailwind of electric vehicles has likely run its course with attach rates and volume lower year over year and competitive threats emerge, the analyst tells investors in a research note. Xpel remains a wonderful business, but Craig-Hallum is moving to the sidelines as shares lack a catalyst.