Carriage Services price target lowered to $38 from $45 at Barrington

Barrington lowered the firm’s price target on Carriage Services to $38 from $45 and keeps an Outperform rating on the shares. The firm recommends buying on weakness after the company reported Q3 results below expectations and reduced its FY23 guidance. Barrington added that its lower price target reflects lower near-term earnings expectations, which assumes that Carriage remains independent.