- Analysts lowered their price targets on Weber Inc (NYSE:WEBR) following its Q1 results.
- JPMorgan analyst Megan Alexander downgraded Weber to Neutral from Overweight with a price target of $9.50, down from $13, implying an 8% downside.
- The analyst sees high sales uncertainty ahead with risk in the second half of 2022 on price elasticity and do-it-yourself "normalization."
- Megan said Weber's toughest compares are ahead while its updated "back-half weighted" guidance embeds an acceleration in units on a two-year basis in Q3 with potential risk on elasticity given record consumer inflation.
- The analyst added that the housing backdrop is becoming less supportive given rising interest rates.
- Related: Weber Stock Slides After Q1 Results Hit By Supply Chain Challenges, Cost Inflation
- BMO Capital analyst Simeon Siegel lowered the price target to $13 from $16 and kept a Market Perform rating on the shares after its Q1 earnings miss.
- The analyst noted company showed impressive two-year revenue growth, but margins remain hampered by macro supply chain challenges plaguing the group.
- Citigroup analyst Wendy Nicholson lowered the price target to $12 from $14 (16% upside) and kept a Neutral rating on the shares.
- Price Action: WEBR shares are trading lower by 2.69% at $10.32 on the last check Tuesday.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
Analysts Cut Weber Price Target Post Q1 Results
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks