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Analysts Cut Weber Price Target Post Q1 Results

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·1 min read
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  • 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.

Latest Ratings for WEBR

Feb 2022

Citigroup

Maintains

Neutral

Feb 2022

JP Morgan

Downgrades

Overweight

Neutral

Dec 2021

B of A Securities

Maintains

Buy

View More Analyst Ratings for WEBR
View the Latest Analyst Ratings

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