Monro price target lowered to $26 from $28 at Wells Fargo

Wells Fargo lowered the firm’s price target on Monro to $26 from $28 and keeps an Equal Weight rating on the shares following the company’s “mixed” fiscal Q2 update. The firm would expect today’s outperformance to “be short-lived,” citing slowing sales trends, limited margin visibility, and an FY24 outlook it says “still carries risk into a tricky” second half, the analyst tells investors.