Medifast price target lowered to $80 from $93 at DA Davidson

DA Davidson analyst Linda Weiser lowered the firm’s price target on Medifast to $80 from $93 and keeps a Neutral rating on the shares. The company reported a big Q2 earnings beat but guided Q3 much lower than expected, with Coaches still struggling to gain new clients and SG&A expense expected to be higher, the analyst tells investors in a research note. The firm also warns that Medifast 2024 free cash flow could be below cash dividends.