Leslie’s price target raised to $6.30 from $5.40 at Stifel

Stifel raised the firm’s price target on Leslie’s to $6.30 from $5.40 and keeps a Hold rating on the shares following Q1 results. While revenue was ahead of estimates, profit performance matched the firm’s expectations with weaker gross margin, the analyst tells investors. With seasonally-low sales and the delayed effectiveness of price decreases, the firm finds it difficult to gain confidence in the company’s FY24 outlook. Shares will likely trade modestly lower with the weaker gross margin performance and the absence of conclusive market share improvements since early November, the firm adds.