Barrington ‘aggressive buyers’ of Franklin Covey on any weakness

Barrington analyst Alexander Paris reiterates an Outperform rating on Franklin Covey with a $55 price target following the fiscal Q1 report. While the stock could open lower this morning on the “underwhelming “Q2 guidance,” Barrington would be “aggressive buyers into weakness” given expectations of accelerating revenues and earnings in the second half of 2024 and beyond, the analyst tells investors in a research note. Barrington says that while Franklin Covey reaffirmed fiscal 2024 guidance, management’s initial outlook for Q2 was below expectations and the stock fell in after-market trading, despite an expected second half rebound.