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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.
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.
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