Blue Apron price target lowered to $4 from $7 at Lake Street

Lake Street analyst Ryan Meyers lowered the firm’s price target on Blue Apron to $4 from $7 and keeps a Buy rating on the shares after the company reported "mixed" Q3 results and pulled its guidance of 7-13% top- line growth due to the lack in visibility surrounding future funding and the timing of enterprise orders. Given concerns around the balance sheet, growth may remain muted in the near-term, so he pulled back his FY22 and FY23 estimates, Meyers tells investors.