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Charlotte's Web Holdings (CWBHF) PT Lowered to $5 at Cowen Following Earnings

May 11, 2021 5:58 PM EDT
Get Alerts CWBHF Hot Sheet
Price: $0.16 +14.29%

Rating Summary:
    1 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 20 | Down: 14 | New: 22
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Cowen analyst Gerald Pascarelli lowered the price target on Charlotte's Web Holdings (OTC: CWBHF) to $5.00 (from $6.00) while maintaining an Outperform rating.

The analyst commented, "Revenue of $23.4 mm came in ~$1 mm under our below-consensus estimate, though trends did improve meaningfully in March and have strengthened into April, providing a more favorable setup for CWEB as the brick and mortar segment begins cycling steep COVID declines. Lowering PT to $5.00. Maintain Outperform."



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