a.k.a. Brands price target lowered to $9 from $18 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on a.k.a. Brands (AKA) to $9 from $18 and keeps a Market Perform rating on the shares. The company’s Q4 results came in “largely as expected,” the analyst tells investors. The firm believes the company’s brand are positioned to return to growth through product newness and increasing its active customer base, but visibility into long-term profitability is limited. The firm notes the retail market remains competitive, Australia presents headwinds, and the broader macroeconomic uncertainty adds further risk.