Brilliant Earth price target lowered to $7.50 from $8 at Piper Sandler

Piper Sandler analyst Edward Yruma lowered the firm’s price target on Brilliant Earth to $7.50 from $8 and keeps a Neutral rating on the shares. Despite a difficult 2022, there may be continued earnings pressure in the first half of 2023 for global lifestyle brands and retailers given a still volatile consumer spending environment and elevated inventory levels, Yruma tells investors in a research note. "We have yet to hit our favored buy signal: trough multiple on trough earnings," says the analyst.