B. Riley analyst Eric Wold lowered the firm’s price target on American Outdoor Brands to $11 from $13 and keeps a Buy rating on the shares. The company reported fiscal Q2 results that came in ahead of expectations, even with some pressure on gross margins, the analyst tells investors in a research note. The firm believes consumers remain price sensitive, as demonstrated by the sales strength around Black Friday and management’s decision to lean on increased discounting in the second half of fiscal 2024 to drive wallet share.
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