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."

You May Also Be Interested In

• argenx SE (ARGX) PT Raised to $1,353 at TD Cowen
• Deutsche Bank Downgrades Netskope (NTSK) to Hold on Valuation
• William Blair Downgrades Enovix Corporation (ENVX) to Market Perform