Build-A-Bear price target lowered to $38 from $42 at DA Davidson

DA Davidson analyst Michael Baker lowered the firm’s price target on Build-A-Bear to $38 from $42 after its FY23 revenue guidance cut but keeps a Buy rating on the shares. Sales did slow a bit towards the end of October and early November, which is not dissimilar to other consumer names, but Black Friday weekend was good and the company has seen some renewed momentum heading into December as holiday related bear styles have been strong, the analyst tells investors in a research note.