Cimpress price target raised to $90 from $87 at Truist

Truist analyst Youssef Squali raised the firm’s price target on Cimpress to $90 from $87 and keeps a Buy rating on the shares. The company’s management sounded “very bullish” in its Analyst Day presentation, reiterating guidance for 8% reported revenue growth in FY24 and $420M in adjusted EBITDA, the analyst tells investors in a research note. Cimpress is finally past its multi-year tech, branding and products retooling efforts, setting the stage for greater product and marketing velocity to drive more consistent growth, the firm added.