Fox Factory price target lowered to $74 from $80 at Stifel

Stifel lowered the firm’s price target on Fox Factory to $74 from $80 and keeps a Hold rating on the shares. The firm updated its model on Fox Factory to include the acquisition of Marucci Sports, expecting it to have a low-single-digit percentage accretive to adjusted EPS in the coming years, the analyst tells investors. The firm warns, however, that the transaction holds the risk of becoming a hinderance to growth rates over time. Overall, Stifel takes a favorable long-term view of category growth, but near-term pressure and limited sightlines to improvement pushes Stifel to maintain a Hold rating.