BofA downgraded Latham Group to Underperform from Buy with a price target of $2.60, down from $4.50, after the company initiated 2024 guidance with the midpoint of revenue and adjusted EBITDA about 8% and 35%, respectively, below the firm’s prior expectations. The firm cites the softer than expected start to 2024, lower expectations for new pool construction and limited free cash flow generation for its downgrade.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on SWIM:
