Stifel lowered the firm’s price target on Leslie’s to $5.40 from $6 and keeps a Hold rating on the shares. Following Leslie’s Q4 earnings report, the firm reduced its outlook, noting that its updated FY24 outlook is at the low end of the company’s initial guidance range as it is cautious on revenue growth prospects, arguing an improved market share performance is likely necessary to meet FY24 guidance. Given the performance to-date, the firm questions if the company “would be better positioned in the private markets,” the analyst tells investors.
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