Roth MKM lowered the firm’s price target on Fox Factory to $55 from $74 and keeps a Neutral rating on the shares. The analyst cites the company’s Q4 earnings miss and well-below-consensus outlook, with weaker outlook coming as soft economic conditions continue to weigh on Fox Factory’s Bike business. The emerging weakness in the Powered Vehicles Group and Aftermarket Accessories Group is also expected to take a big toll on profits in the first half, the firm tells investors in a research note.
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