Roth MKM analyst George Kelly downgraded BRC Inc. to Neutral from Buy with a price target of $4, down from $8. The analyst cites the company’s Q2 revenue miss and reduced FY24 topline guidance, adding that the firm is also leaving the just-announced energy product unmodeled pending more information about the product and the launch. The firm intends to remain on the sidelines until there is a clearer picture of BRC’s growth outlook and various new initiatives, Roth MKM added.
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