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

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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