UPDATE: Jefferies Starts Allbirds Inc (BIRD) at Hold
- Wall Street ends first day of third quarter with solid rebound
- Tesla (TSLA) Delivered 254,695 EV Units in Q2, Below Consensus
- Goldman Sachs Warns Clients of More Equity Market Losses in Second Half of 2022
- Kohl's (KSS) Falls 15% After Ending Sale Talks With Franchise Group and Issuing Q2 Warning
- General Motors Warns It Has 95k Vehicles in Inventory Without Certain Components
Jefferies analyst Ashley Helgans initiates coverage on Allbirds Inc (NASDAQ: BIRD) with a Hold rating and a price target of $6.00.
The analyst comments "BIRD's revamped growth strategy is expected to be fueled by stores, innovation (performance/athletic + apparel), int'l expansion, and surprisingly now even wholesale (lower GM%). While the diversified strategy bodes well for "more shots on goal" and increasing brand awareness, we view the model as lacking visibility and clarity. In addition, our survey skews neg. for premium ESG products, competition has increased, and profitability lags peers. Hold, $6 PT."
Shares of Allbirds Inc closed at $5.95 yesterday.
You May Also Be Interested In
- Oracle Corp Japan (4716:JP) (OCLCF) PT Lowered to JPY9,250 at JPMorgan
- Bumi Serpong Damai (BSDE:IJ) (BSPDF) PT Lowered to IDR1,390 at Citi
- Infosys Ltd. (INFO:IN) (INFY) PT Lowered to INR1,700 at JPMorgan
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!