UPDATE: Jefferies Starts Allbirds Inc (BIRD) at Hold

(Updated - March 17, 2022 4:50 PM EDT)

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."

For an analyst ratings summary and ratings history on Allbirds Inc click here. For more ratings news on Allbirds Inc click here.

Shares of Allbirds Inc closed at $5.95 yesterday.

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