Clarus price target lowered to $7 from $14 at Lake Street

Lake Street analyst Mark Smith lowered the firm’s price target on Clarus to $7 from $14 and keeps a Buy rating on the shares after the company reported Q3 results that missed the firm’s expectations and consensus and gave FY23 revenue guidance that was below the firm’s prior expectations. The firm anticipates the challenging operating environment will persist over the coming quarters and that ongoing softness in ammunition will further impact results, the analyst tells investors.