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Telsey Advisory Thinks This Recently Listed Consumer Products Company Is Taking Right Steps

·1 min read
  • Telsey Advisory Group analyst Dana Telsey has reiterated Outperform rating on Grove Collaborative Holdings Inc (NYSE: GROV) shares, with a price target of $10.00.

  • Last week, Telsey attended GROV’s Virtual Analyst Day, in which the company outlined its long-term strategy following its June 17 listing on the NYSE.

  • Grove reiterated its 2024 revenue and adjusted EBITDA margin targets that were unveiled with its 1Q22 results.

  • The analyst believes the company is taking the right steps by optimizing its product and channel mix, expanding into retail, and right-sizing marketing and operating expenses.

  • With a clear omni-channel distribution strategy driving brand awareness and sales, the analyst thinks Grove can disrupt the market and do so profitably as consumers shift away from single-use plastics.

  • Price Action: GROV shares are trading lower by 3.37% at $6.65 on the last check Monday.

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