Ethan Allen price target lowered to $30 from $33 at Telsey Advisory

Telsey Advisory analyst Cristina Fernandez lowered the firm’s price target on Ethan Allen to $30 from $33 and keeps a Market Perform rating on the shares. The company’s Q1 results for sales and profitability missed the firms expectations, the analyst tells investors. Overall, the demand environment for home furnishing retailers is challenging, specifically due to declines in existing home sales and the shift to spending toward services, Telsey added. The firm expects the company will remain under pressure in the near-term.