Charlotte's Web Holdings (CWBHF) PT Lowered to $2 at Cowen

Cowen analyst Gerald Pascarelli lowered the price target on Charlotte's Web Holdings (OTC: CWBHF) to $2.00 (from $3.00) while maintaining an Outperform rating.

The analyst commented, "4Q revenue of 24.8 mm came in below expectations and marked a 7.8% YoY decline as flat B2B sales performance did not offset a 12.1% YoY decline in the DTC channel. At 65% of sales driving better performance in DTC will be a must in order to accelerate revenue growth and is a key priority for newly minted CEO Jacques Tortoroli who assumed the role in mid-December 2021."

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