Joann price target lowered to $2 from $4 at Loop Capital

Loop Capital analyst Laura Champine lowered the firm’s price target on Joann to $2 from $4 and keeps a Hold rating on the shares. The analyst cites the company’s Q4 earnings miss as a $95M trade name impairment impacted the quarter. The firm adds that it is concerned about the company’s balance sheet and will take a wait and see approach to the shares.